California Public Employees Retirement System Sells 117,002 Shares of OGE Energy Corporation $OGE

California Public Employees Retirement System lowered its holdings in OGE Energy Corporation (NYSE:OGE) by 12.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 816,108 shares of the utilities provider’s stock after selling 117,002 shares during the period. California Public Employees Retirement System owned approximately 0.41% of OGE Energy worth $36,219,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Morningstar Investment Management LLC bought a new position in OGE Energy during the 2nd quarter worth $391,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of OGE Energy during the 1st quarter valued at $385,000. Inspire Investing LLC grew its holdings in shares of OGE Energy by 100.2% during the 1st quarter. Inspire Investing LLC now owns 32,247 shares of the utilities provider’s stock worth $1,482,000 after purchasing an additional 16,141 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of OGE Energy by 274.7% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 17,644 shares of the utilities provider’s stock worth $783,000 after purchasing an additional 12,935 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of OGE Energy by 40.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,352 shares of the utilities provider’s stock worth $1,928,000 after purchasing an additional 12,430 shares during the period. 71.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OGE. Royal Bank Of Canada upgraded shares of OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. Wells Fargo & Company raised shares of OGE Energy to a “hold” rating in a report on Tuesday, October 28th. UBS Group lifted their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, OGE Energy presently has a consensus rating of “Moderate Buy” and an average target price of $48.75.

OGE Energy Stock Performance

NYSE OGE opened at $42.86 on Thursday. The firm’s fifty day moving average price is $45.06 and its two-hundred day moving average price is $44.76. The stock has a market cap of $8.63 billion, a PE ratio of 17.21, a PEG ratio of 2.71 and a beta of 0.61. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.52 and a current ratio of 0.80. OGE Energy Corporation has a fifty-two week low of $39.41 and a fifty-two week high of $47.33.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. OGE Energy had a net margin of 15.28% and a return on equity of 10.77%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $1.09 EPS. On average, equities analysts expect that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, January 5th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, January 5th. OGE Energy’s payout ratio is 68.27%.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.