Retirement Systems of Alabama Boosts Stake in OGE Energy Corp. (NYSE:OGE)

Retirement Systems of Alabama lifted its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 485,935 shares of the utilities provider’s stock after buying an additional 330 shares during the period. Retirement Systems of Alabama’s holdings in OGE Energy were worth $20,045,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mather Group LLC. raised its stake in OGE Energy by 20.9% during the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock valued at $67,000 after buying an additional 279 shares during the last quarter. Longboard Asset Management LP purchased a new position in OGE Energy in the fourth quarter worth about $203,000. Fourpath Capital Management LLC grew its stake in shares of OGE Energy by 3.3% during the 4th quarter. Fourpath Capital Management LLC now owns 50,756 shares of the utilities provider’s stock valued at $2,094,000 after purchasing an additional 1,623 shares during the period. New Wave Wealth Advisors LLC bought a new stake in shares of OGE Energy during the 4th quarter valued at about $80,000. Finally, Gries Financial LLC increased its position in shares of OGE Energy by 1.7% during the 4th quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider’s stock valued at $1,274,000 after purchasing an additional 514 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on OGE. Barclays cut their target price on shares of OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.00.

OGE Energy Trading Down 0.2 %

OGE Energy stock opened at $42.52 on Friday. OGE Energy Corp. has a 12-month low of $32.06 and a 12-month high of $44.41. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 3.15 and a beta of 0.78. The firm has a 50 day moving average of $41.87 and a 200 day moving average of $40.95. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.03). The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. As a group, research analysts predict that OGE Energy Corp. will post 2.17 earnings per share for the current year.

OGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were issued a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $1.69 dividend on an annualized basis and a yield of 3.96%. OGE Energy’s dividend payout ratio is presently 87.05%.

Insider Activity

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the completion of the transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

About OGE Energy

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.