VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 11,800 Shares of OGE Energy Corporation $OGE

VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of OGE Energy Corporation (NYSE:OGE) by 12.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 108,400 shares of the utilities provider’s stock after purchasing an additional 11,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in OGE Energy were worth $4,924,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of OGE Energy during the second quarter worth about $1,277,554,000. State Street Corp grew its position in OGE Energy by 2.8% during the 2nd quarter. State Street Corp now owns 7,226,476 shares of the utilities provider’s stock worth $351,640,000 after purchasing an additional 198,593 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of OGE Energy by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,688,307 shares of the utilities provider’s stock worth $128,931,000 after buying an additional 24,529 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of OGE Energy during the second quarter worth $102,382,000. Finally, Energy Income Partners LLC acquired a new stake in shares of OGE Energy during the second quarter worth $99,016,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Trading Down 0.1%

OGE stock opened at $49.44 on Monday. OGE Energy Corporation has a 52-week low of $41.69 and a 52-week high of $50.59. The company has a quick ratio of 0.52, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The firm has a market cap of $10.22 billion, a P/E ratio of 18.66, a PEG ratio of 3.25 and a beta of 0.48. The company’s 50-day simple moving average is $46.51 and its 200-day simple moving average is $47.10.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.16. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.12 billion. OGE Energy had a return on equity of 10.97% and a net margin of 16.36%. OGE Energy’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. As a group, equities analysts forecast that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Monday, October 5th were given a dividend of $0.4288 per share. This is a positive change from OGE Energy’s previous quarterly dividend of $0.4250. The ex-dividend date was Monday, October 5th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.5%. OGE Energy’s payout ratio is 64.91%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. BMO Capital Markets decreased their price objective on OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a report on Thursday. Barclays lifted their price target on OGE Energy from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Morgan Stanley boosted their price target on OGE Energy from $46.00 to $47.00 and gave the company an “equal weight” rating in a report on Wednesday, October 21st. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.00.

Insider Activity

In related news, SVP Donnie Jones sold 6,508 shares of OGE Energy stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total value of $300,083.88. Following the sale, the senior vice president owned 40,555 shares of the company’s stock, valued at approximately $1,869,991.05. This trade represents a 13.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.

OGE Energy Company Profile

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.