VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 11,800 Shares of OGE Energy Corporation $OGE

VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of OGE Energy Corporation (NYSE:OGE) by 12.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,400 shares of the utilities provider’s stock after purchasing an additional 11,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.05% of OGE Energy worth $4,924,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Operose Advisors LLC purchased a new position in shares of OGE Energy during the second quarter valued at approximately $26,000. Root Financial Partners LLC raised its holdings in shares of OGE Energy by 111.3% in the first quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock worth $29,000 after buying an additional 315 shares during the period. Markowski Investments purchased a new stake in shares of OGE Energy in the second quarter worth approximately $29,000. Clearstead Trust LLC bought a new stake in shares of OGE Energy during the 2nd quarter worth approximately $37,000. Finally, Pension & Wealth Management Advisors Inc. purchased a new position in OGE Energy during the 3rd quarter valued at $39,000. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Performance

OGE stock opened at $49.44 on Monday. OGE Energy Corporation has a 1-year low of $41.69 and a 1-year high of $50.59. The business has a 50-day moving average price of $46.51 and a 200 day moving average price of $47.10. The company has a market capitalization of $10.22 billion, a P/E ratio of 18.66, a PEG ratio of 3.25 and a beta of 0.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.52.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.36 by $0.16. OGE Energy had a net margin of 16.36% and a return on equity of 10.97%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the business posted $1.14 EPS. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. As a group, equities research analysts forecast that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Monday, October 5th were issued a $0.4288 dividend. The ex-dividend date was Monday, October 5th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from OGE Energy’s previous quarterly dividend of $0.4250. OGE Energy’s dividend payout ratio (DPR) is 64.91%.

Analysts Set New Price Targets

OGE has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 21st. BMO Capital Markets cut their price target on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a report on Thursday. Barclays boosted their price objective on shares of OGE Energy from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Argus restated a “buy” rating on shares of OGE Energy in a research note on Wednesday, September 16th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, OGE Energy currently has an average rating of “Hold” and an average target price of $50.00.

Insider Activity at OGE Energy

In related news, SVP Donnie Jones sold 6,508 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the sale, the senior vice president directly owned 40,555 shares in the company, valued at $1,869,991.05. This represents a 13.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.57% of the company’s stock.

OGE Energy Company Profile

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.