59,600 Shares in OGE Energy Corporation $OGE Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in OGE Energy Corporation (NYSE:OGE) in the first quarter, HoldingsChannel reports. The fund bought 59,600 shares of the utilities provider’s stock, valued at approximately $2,858,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quest 10 Wealth Builders Inc. boosted its stake in shares of OGE Energy by 618.3% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $33,000 after buying an additional 674 shares during the last quarter. State of Wyoming bought a new position in shares of OGE Energy in the 2nd quarter valued at about $34,000. Caitong International Asset Management Co. Ltd increased its position in shares of OGE Energy by 49.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 255 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of OGE Energy by 14,780.0% in the first quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 739 shares during the last quarter. Finally, Clearstead Advisors LLC raised its holdings in OGE Energy by 96.2% during the fourth quarter. Clearstead Advisors LLC now owns 881 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 432 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Stock Down 0.1%

Shares of OGE stock opened at $49.52 on Monday. OGE Energy Corporation has a 52-week low of $41.69 and a 52-week high of $50.13. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 3.67 and a beta of 0.53. The firm’s 50-day moving average is $47.59 and its 200-day moving average is $46.28. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.40 and a current ratio of 0.66.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $752.60 million during the quarter, compared to analysts’ expectations of $616.02 million. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.OGE Energy’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $0.31 earnings per share. Sell-side analysts predict that OGE Energy Corporation will post 2.43 EPS for the current year.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, July 6th. OGE Energy’s payout ratio is currently 75.89%.

Insider Buying and Selling at OGE Energy

In related news, insider William H. Sultemeier sold 7,345 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the transaction, the insider directly owned 74,497 shares of the company’s stock, valued at approximately $3,573,621.09. The trade was a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wells Fargo & Company increased their price target on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Morgan Stanley started coverage on OGE Energy in a research report on Wednesday, June 24th. They set an “equal weight” rating and a $50.00 price target on the stock. Wall Street Zen cut OGE Energy from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Barclays increased their price objective on OGE Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Finally, LADENBURG THALM/SH SH raised their target price on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, OGE Energy currently has a consensus rating of “Hold” and an average price target of $49.20.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.