California Public Employees Retirement System grew its stake in shares of OGE Energy Corp. (NYSE:OGE) by 37.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 496,039 shares of the utilities provider’s stock after buying an additional 136,270 shares during the period. California Public Employees Retirement System owned 0.25% of OGE Energy worth $22,510,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in OGE. Rockland Trust Co. increased its position in OGE Energy by 5.3% during the second quarter. Rockland Trust Co. now owns 32,313 shares of the utilities provider’s stock worth $1,375,000 after buying an additional 1,640 shares in the last quarter. Retirement Systems of Alabama increased its position in OGE Energy by 93.4% during the second quarter. Retirement Systems of Alabama now owns 502,868 shares of the utilities provider’s stock worth $21,402,000 after buying an additional 242,866 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new position in OGE Energy during the second quarter worth $591,000. Nisa Investment Advisors LLC increased its position in OGE Energy by 8.6% during the second quarter. Nisa Investment Advisors LLC now owns 377,313 shares of the utilities provider’s stock worth $16,058,000 after buying an additional 30,013 shares in the last quarter. Finally, 6 Meridian increased its position in OGE Energy by 2.1% during the second quarter. 6 Meridian now owns 12,104 shares of the utilities provider’s stock worth $515,000 after buying an additional 254 shares in the last quarter. 65.93% of the stock is owned by institutional investors.
In related news, Treasurer Charles B. Walworth sold 705 shares of OGE Energy stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $42.81, for a total value of $30,181.05. Following the transaction, the treasurer now owns 10,120 shares in the company, valued at $433,237.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is currently owned by company insiders.
OGE has been the subject of several recent research reports. Evercore ISI reissued a “hold” rating and set a $39.00 price target on shares of OGE Energy in a research report on Sunday, August 11th. ValuEngine cut OGE Energy from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America upgraded OGE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $46.00 in a report on Friday, September 6th. UBS Group raised their price objective on OGE Energy from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Finally, Mizuho raised their price objective on OGE Energy from $43.50 to $45.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. OGE Energy currently has a consensus rating of “Hold” and a consensus price target of $43.00.
OGE stock opened at $42.83 on Friday. OGE Energy Corp. has a 52-week low of $37.57 and a 52-week high of $45.77. The stock’s fifty day simple moving average is $43.76 and its 200-day simple moving average is $43.01. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 4.45 and a beta of 0.47.
OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.14. OGE Energy had a return on equity of 10.17% and a net margin of 18.39%. The business had revenue of $755.40 million for the quarter, compared to analysts’ expectations of $728.22 million. During the same quarter last year, the firm earned $1.02 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. As a group, analysts anticipate that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Thursday, October 10th were issued a $0.3875 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $1.55 dividend on an annualized basis and a yield of 3.62%. This is a boost from OGE Energy’s previous quarterly dividend of $0.37. OGE Energy’s dividend payout ratio (DPR) is presently 73.11%.
About OGE Energy
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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