Retirement Systems of Alabama Has $8.96 Million Position in OGE Energy Corporation (NYSE:OGE)
Retirement Systems of Alabama decreased its position in shares of OGE Energy Corporation (NYSE:OGE) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 257,449 shares of the utilities provider’s stock after selling 370 shares during the period. Retirement Systems of Alabama’s holdings in OGE Energy Corporation were worth $8,957,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Shell Asset Management Co. raised its position in shares of OGE Energy Corporation by 215.5% in the first quarter. Shell Asset Management Co. now owns 42,340 shares of the utilities provider’s stock worth $1,481,000 after buying an additional 28,920 shares in the last quarter. Korea Investment CORP bought a new position in shares of OGE Energy Corporation during the first quarter worth approximately $1,203,000. First Manhattan Co. raised its position in shares of OGE Energy Corporation by 6.0% in the first quarter. First Manhattan Co. now owns 186,780 shares of the utilities provider’s stock worth $5,905,000 after buying an additional 10,570 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of OGE Energy Corporation by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,326 shares of the utilities provider’s stock worth $174,000 after buying an additional 207 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new position in shares of OGE Energy Corporation during the first quarter worth approximately $11,606,000. 61.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of OGE Energy Corporation (NYSE OGE) opened at 35.42 on Friday. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 18.54 and a beta of 0.88. OGE Energy Corporation has a 12-month low of $29.57 and a 12-month high of $37.41. The firm has a 50-day moving average price of $35.26 and a 200-day moving average price of $35.12.
OGE Energy Corporation (NYSE:OGE) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The company had revenue of $586.40 million for the quarter, compared to the consensus estimate of $563 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts anticipate that OGE Energy Corporation will post $1.96 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Monday, July 10th were given a $0.3025 dividend. This represents a $1.21 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Thursday, July 6th. OGE Energy Corporation’s payout ratio is 63.35%.
A number of research analysts have recently commented on the company. Jefferies Group LLC reissued a “hold” rating and set a $37.00 price objective (up previously from $35.00) on shares of OGE Energy Corporation in a report on Wednesday. Zacks Investment Research lowered OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday. BidaskClub raised OGE Energy Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Evercore ISI assumed coverage on OGE Energy Corporation in a report on Monday, July 24th. They set an “outperform” rating and a $37.00 price objective on the stock. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on OGE Energy Corporation in a report on Thursday, July 20th. They set a “neutral” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $35.17.
In other news, insider H Scott Forbes sold 4,670 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.19, for a total value of $169,007.30. Following the transaction, the insider now owns 18,311 shares of the company’s stock, valued at $662,675.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Luke R. Corbett sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total value of $45,387.50. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.
OGE Energy Corporation Company Profile
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two 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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