OGE Energy Corp. (NYSE:OGE) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its position in shares of OGE Energy Corp. (NYSE:OGE) by 0.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 492,450 shares of the utilities provider’s stock after purchasing an additional 770 shares during the period. Retirement Systems of Alabama’s holdings in OGE Energy were worth $17,201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. ClearBridge Investments Ltd increased its holdings in shares of OGE Energy by 3.9% during the 3rd quarter. ClearBridge Investments Ltd now owns 6,684,861 shares of the utilities provider’s stock worth $222,806,000 after buying an additional 252,456 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of OGE Energy by 28.6% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 3,083,472 shares of the utilities provider’s stock worth $102,772,000 after buying an additional 686,174 shares during the last quarter. Invesco Ltd. increased its holdings in shares of OGE Energy by 13.4% during the 3rd quarter. Invesco Ltd. now owns 1,842,045 shares of the utilities provider’s stock worth $61,395,000 after buying an additional 217,866 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of OGE Energy by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,389,835 shares of the utilities provider’s stock worth $46,323,000 after buying an additional 15,699 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of OGE Energy by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,263,329 shares of the utilities provider’s stock worth $42,107,000 after buying an additional 18,122 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on OGE shares. Barclays cut shares of OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price target for the company. in a research report on Monday, April 22nd. TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 21st. LADENBURG THALM/SH SH cut shares of OGE Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $34.00 in a research report on Tuesday, January 16th. Finally, StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $33.40.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the completion of the transaction, the vice president now directly owns 25,926 shares in the company, valued at $879,409.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $34.66 on Wednesday. The firm’s 50 day moving average is $33.71 and its two-hundred day moving average is $34.09. OGE Energy Corp. has a 52 week low of $31.25 and a 52 week high of $38.04. The firm has a market capitalization of $6.95 billion, a P/E ratio of 16.74, a PEG ratio of 3.25 and a beta of 0.73. 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 (NYSE:OGE) last announced its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The company had revenue of $566.70 million for the quarter, compared to analyst estimates of $986.67 million. During the same quarter last year, the business earned $0.25 earnings per share. OGE Energy’s revenue was down 20.4% compared to the same quarter last year. Analysts anticipate that OGE Energy Corp. will post 2.13 earnings per share for the current year.

OGE Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 8th were issued a $0.418 dividend. This represents a $1.67 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend was Friday, April 5th. OGE Energy’s dividend payout ratio (DPR) is presently 80.68%.

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.