Retirement Systems of Alabama lowered its position in shares of OGE Energy Corporation (NYSE:OGE) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 257,449 shares of the utilities provider’s stock after selling 370 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of OGE Energy Corporation worth $8,957,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in OGE Energy Corporation during the fourth quarter worth approximately $270,000. Raymond James Trust N.A. boosted its stake in shares of OGE Energy Corporation by 6.6% in the first quarter. Raymond James Trust N.A. now owns 12,176 shares of the utilities provider’s stock worth $426,000 after buying an additional 757 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of OGE Energy Corporation by 0.4% in the first quarter. Gulf International Bank UK Ltd now owns 70,994 shares of the utilities provider’s stock worth $2,483,000 after buying an additional 300 shares during the last quarter. Fox Run Management L.L.C. boosted its stake in shares of OGE Energy Corporation by 52.8% in the first quarter. Fox Run Management L.L.C. now owns 12,374 shares of the utilities provider’s stock worth $433,000 after buying an additional 4,274 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of OGE Energy Corporation by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 50,400 shares of the utilities provider’s stock worth $1,763,000 after buying an additional 1,000 shares during the last quarter. 61.79% of the stock is owned by institutional investors.
Shares of OGE Energy Corporation (OGE) opened at 35.42 on Friday. The stock has a market cap of $7.07 billion, a PE ratio of 18.54 and a beta of 0.88. The stock’s 50 day moving average price is $35.26 and its 200-day moving average price is $35.12. OGE Energy Corporation has a one year low of $29.57 and a one year high of $37.41.
OGE Energy Corporation (NYSE:OGE) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $563 million. During the same period last year, the business earned $0.35 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts predict that OGE Energy Corporation will post $1.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Monday, July 10th were paid a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Thursday, July 6th. OGE Energy Corporation’s dividend payout ratio (DPR) is presently 63.35%.
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A number of brokerages have recently issued reports on OGE. Jefferies Group LLC reiterated a “hold” rating and set a $35.00 target price on shares of OGE Energy Corporation in a report on Friday, May 5th. Evercore ISI began coverage on OGE Energy Corporation in a report on Monday, July 24th. They set an “outperform” rating and a $37.00 target price for the company. Zacks Investment Research cut OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday. BidaskClub cut OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) began coverage on OGE Energy Corporation in a report on Thursday, July 20th. They set a “neutral” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.17.
In other news, insider H Scott Forbes sold 4,670 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.19, for a total transaction of $169,007.30. Following the completion of the sale, the insider now directly owns 18,311 shares of the company’s stock, valued at approximately $662,675.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Luke R. Corbett sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was 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 owned by company 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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