56,300 Shares in OGE Energy Corp. (NYSE:OGE) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in shares of OGE Energy Corp. (NYSE:OGE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 56,300 shares of the utilities provider’s stock, valued at approximately $1,967,000.

Several other large investors have also recently made changes to their positions in OGE. American Century Companies Inc. grew its holdings in OGE Energy by 56.9% in the 1st quarter. American Century Companies Inc. now owns 52,482 shares of the utilities provider’s stock valued at $2,140,000 after buying an additional 19,035 shares in the last quarter. Citigroup Inc. grew its holdings in OGE Energy by 24.4% in the 1st quarter. Citigroup Inc. now owns 56,516 shares of the utilities provider’s stock valued at $2,305,000 after buying an additional 11,082 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in OGE Energy by 14.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 120,197 shares of the utilities provider’s stock valued at $5,036,000 after buying an additional 15,620 shares in the last quarter. Sei Investments Co. grew its holdings in OGE Energy by 16.1% in the 1st quarter. Sei Investments Co. now owns 38,387 shares of the utilities provider’s stock valued at $1,606,000 after buying an additional 5,317 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in OGE Energy by 371.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 452,349 shares of the utilities provider’s stock valued at $18,447,000 after buying an additional 356,349 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OGE. TheStreet cut OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. StockNews.com lowered OGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. LADENBURG THALM/SH SH lowered OGE Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $34.00 in a research note on Tuesday, January 16th. Finally, Barclays decreased their price target on OGE Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $33.40.

OGE Energy Price Performance

OGE stock opened at $33.15 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.65 and a quick ratio of 0.30. The firm has a market capitalization of $6.65 billion, a P/E ratio of 16.01, a P/E/G ratio of 3.05 and a beta of 0.73. The business’s 50-day moving average is $33.47 and its two-hundred day moving average is $34.01. OGE Energy Corp. has a 1 year low of $31.25 and a 1 year high of $38.04.

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

OGE Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 8th will be issued a $0.418 dividend. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 5.04%. OGE Energy’s payout ratio is currently 80.68%.

Insider Buying and Selling

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total transaction of $142,023.04. Following the transaction, the vice president now owns 25,926 shares in the company, valued at approximately $879,409.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by company insiders.

OGE Energy Company 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.