California Public Employees Retirement System Sells 51,146 Shares of OGE Energy Corporation $OGE

California Public Employees Retirement System reduced its position in OGE Energy Corporation (NYSE:OGE) by 8.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 523,036 shares of the utilities provider’s stock after selling 51,146 shares during the period. California Public Employees Retirement System’s holdings in OGE Energy were worth $25,085,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Oak Thistle LLC increased its position in shares of OGE Energy by 368.0% during the 4th quarter. Oak Thistle LLC now owns 54,337 shares of the utilities provider’s stock valued at $2,320,000 after purchasing an additional 42,726 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in OGE Energy by 915.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 328,260 shares of the utilities provider’s stock worth $14,017,000 after buying an additional 295,932 shares during the period. Geode Capital Management LLC grew its position in shares of OGE Energy by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 3,825,542 shares of the utilities provider’s stock worth $163,397,000 after purchasing an additional 204,510 shares in the last quarter. Gaddis Premier Wealth Advisors LLC bought a new stake in shares of OGE Energy during the fourth quarter valued at approximately $1,430,000. Finally, Norges Bank bought a new position in shares of OGE Energy during the 4th quarter valued at about $119,028,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on OGE shares. Wells Fargo & Company increased their price target on shares of OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Morgan Stanley set a $51.00 price objective on OGE Energy in a research note on Wednesday. BMO Capital Markets dropped their target price on OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday. LADENBURG THALM/SH SH boosted their target price on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $49.80.

Insiders Place Their Bets

In other news, insider William H. Sultemeier sold 7,345 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the sale, the insider owned 74,497 shares in the company, valued at approximately $3,573,621.09. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

OGE Energy Trading Up 2.0%

NYSE:OGE opened at $49.28 on Thursday. The firm has a 50-day simple moving average of $48.07 and a 200-day simple moving average of $47.02. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.26. The firm has a market cap of $10.17 billion, a P/E ratio of 22.00, a P/E/G ratio of 3.57 and a beta of 0.53. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.40 and a current ratio of 0.66.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The firm had revenue of $752.60 million during the quarter, compared to analyst estimates of $616.02 million. During the same quarter in the previous year, the business posted $0.31 EPS. OGE Energy’s revenue was up .7% on a year-over-year basis. Equities analysts anticipate that OGE Energy Corporation will post 2.43 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $0.425 dividend. The ex-dividend date is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a yield of 3.4%. OGE Energy’s dividend payout ratio (DPR) is 75.89%.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.