Retirement Systems of Alabama Buys 101 Shares of OGE Energy Corp. (OGE)
Retirement Systems of Alabama boosted its stake in shares of OGE Energy Corp. (NYSE:OGE) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 257,607 shares of the company’s stock after buying an additional 101 shares during the period. Retirement Systems of Alabama’s holdings in OGE Energy Corp. were worth $8,437,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the company. BlackRock Fund Advisors raised its stake in shares of OGE Energy Corp. by 8.4% in the first quarter. BlackRock Fund Advisors now owns 10,372,570 shares of the company’s stock worth $296,967,000 after buying an additional 799,593 shares during the period. State Street Corp raised its stake in shares of OGE Energy Corp. by 4.6% in the first quarter. State Street Corp now owns 6,888,470 shares of the company’s stock worth $197,225,000 after buying an additional 301,366 shares during the period. Wellington Management Group LLP raised its stake in shares of OGE Energy Corp. by 0.3% in the first quarter. Wellington Management Group LLP now owns 5,512,620 shares of the company’s stock worth $157,827,000 after buying an additional 16,591 shares during the period. Nordea Investment Management AB raised its stake in shares of OGE Energy Corp. by 1.0% in the second quarter. Nordea Investment Management AB now owns 3,317,660 shares of the company’s stock worth $108,653,000 after buying an additional 33,528 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of OGE Energy Corp. during the first quarter worth about $40,082,000. 64.25% of the stock is currently owned by institutional investors.
OGE Energy Corp. (NYSE:OGE) traded down 1.23% on Friday, reaching $29.62. The company had a trading volume of 822,428 shares. The firm has a 50 day moving average price of $31.46 and a 200-day moving average price of $30.66. OGE Energy Corp. has a 12 month low of $23.37 and a 12 month high of $33.10. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 25.10 and a beta of 0.66.
OGE Energy Corp. (NYSE:OGE) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.06. The firm earned $551.40 million during the quarter, compared to the consensus estimate of $569.62 million. OGE Energy Corp. had a net margin of 11.03% and a return on equity of 7.14%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 earnings per share. Analysts forecast that OGE Energy Corp. will post $1.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Tuesday, October 11th will be given a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 4.09%. This is a positive change from OGE Energy Corp.’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, October 6th. OGE Energy Corp.’s dividend payout ratio (DPR) is presently 102.54%.
OGE has been the topic of a number of recent analyst reports. TheStreet raised OGE Energy Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, September 6th. Zacks Investment Research raised OGE Energy Corp. from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Tuesday. Finally, Jefferies Group cut their target price on OGE Energy Corp. from $34.00 to $32.50 and set a “hold” rating on the stock in a research report on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. OGE Energy Corp. currently has a consensus rating of “Hold” and a consensus target price of $31.10.
In other OGE Energy Corp. news, insider H Scott Forbes sold 4,959 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $32.12, for a total value of $159,283.08. Following the transaction, the insider now directly owns 22,241 shares in the company, valued at approximately $714,380.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jean C. Leger, Jr. sold 10,000 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $31.17, for a total value of $311,700.00. Following the completion of the transaction, the vice president now owns 14,746 shares in the company, valued at $459,632.82. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.
About OGE Energy Corp.
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company operates through two business segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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