California Public Employees Retirement System Purchases 48,629 Shares of OGE Energy Corp. (NYSE:OGE)

California Public Employees Retirement System boosted its position in OGE Energy Corp. (NYSE:OGE) by 4.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,095,069 shares of the utilities provider’s stock after purchasing an additional 48,629 shares during the quarter. California Public Employees Retirement System’s holdings in OGE Energy were worth $38,251,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of OGE. Avior Wealth Management LLC lifted its position in shares of OGE Energy by 572.5% during the 3rd quarter. Avior Wealth Management LLC now owns 1,466 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 1,248 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of OGE Energy by 6.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,278 shares of the utilities provider’s stock valued at $576,000 after acquiring an additional 1,104 shares during the period. Tectonic Advisors LLC bought a new stake in shares of OGE Energy during the 3rd quarter valued at $335,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of OGE Energy by 38.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 44,814 shares of the utilities provider’s stock worth $1,494,000 after buying an additional 12,481 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in shares of OGE Energy during the 3rd quarter worth $7,251,000. 71.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OGE shares. StockNews.com raised OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday. TheStreet cut OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. Barclays cut OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 target price for the company. in a report on Monday, April 22nd. Finally, LADENBURG THALM/SH SH cut OGE Energy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $34.00 in a report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, OGE Energy presently has a consensus rating of “Hold” and an average target price of $33.40.

OGE Energy Trading Down 1.9 %

Shares of OGE stock opened at $33.82 on Friday. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 3.23 and a beta of 0.73. The stock has a 50-day moving average of $33.63 and a 200-day moving average of $34.07. The company has a current ratio of 0.65, a quick ratio of 0.30 and a debt-to-equity ratio of 0.96. OGE Energy Corp. has a 1-year low of $31.25 and a 1-year high of $38.04.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. OGE Energy had a return on equity of 9.37% and a net margin of 15.59%. The company had revenue of $566.70 million during the quarter, compared to analysts’ expectations of $986.67 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The business’s quarterly revenue was down 20.4% on a year-over-year basis. On average, equities research analysts forecast that OGE Energy Corp. will post 2.13 earnings per share for the current year.

OGE Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 8th were given a dividend of $0.418 per share. The ex-dividend date was Friday, April 5th. This represents a $1.67 annualized dividend and a dividend yield of 4.94%. OGE Energy’s payout ratio is 80.68%.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total transaction of $142,023.04. Following the sale, the vice president now owns 25,926 shares in the company, valued at approximately $879,409.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is owned by corporate insiders.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.