Louisiana State Employees Retirement System Takes $1.97 Million Position in OGE Energy Corp. (NYSE:OGE)

Louisiana State Employees Retirement System purchased a new stake in OGE Energy Corp. (NYSE:OGE) during the 4th quarter, HoldingsChannel reports. The firm purchased 56,300 shares of the utilities provider’s stock, valued at approximately $1,967,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of OGE Energy by 1.5% in the first quarter. BlackRock Inc. now owns 24,046,611 shares of the utilities provider’s stock valued at $905,595,000 after buying an additional 345,949 shares during the period. Vanguard Group Inc. lifted its stake in shares of OGE Energy by 1.4% in the third quarter. Vanguard Group Inc. now owns 20,674,150 shares of the utilities provider’s stock valued at $753,780,000 after buying an additional 294,759 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of OGE Energy by 98,211.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,361,568 shares of the utilities provider’s stock valued at $291,150,000 after buying an additional 7,354,080 shares during the period. State Street Corp lifted its stake in shares of OGE Energy by 1.5% in the third quarter. State Street Corp now owns 7,122,492 shares of the utilities provider’s stock valued at $259,686,000 after buying an additional 103,185 shares during the period. Finally, ClearBridge Investments Ltd lifted its stake in shares of OGE Energy by 3.9% in the third quarter. ClearBridge Investments Ltd now owns 6,684,861 shares of the utilities provider’s stock valued at $222,806,000 after buying an additional 252,456 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Up 0.6 %

Shares of OGE opened at $33.15 on Friday. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 3.05 and a beta of 0.73. The company has a quick ratio of 0.30, a current ratio of 0.65 and a debt-to-equity ratio of 0.96. OGE Energy Corp. has a 12 month low of $31.25 and a 12 month high of $38.04. The company has a 50-day moving average price of $33.47 and a two-hundred day moving average price of $34.01.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $566.70 million during the quarter, compared to analysts’ expectations of $986.67 million. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The company’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. Equities analysts predict that OGE Energy Corp. will post 2.13 EPS for the current fiscal year.

OGE Energy Cuts Dividend

The company 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 dividend of $0.418 per share. This represents a $1.67 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend is Friday, April 5th. OGE Energy’s payout ratio is 80.68%.

Analyst Upgrades and Downgrades

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

Insider Transactions at OGE Energy

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total transaction of $142,023.04. Following the completion of the sale, the vice president now owns 25,926 shares of the company’s stock, valued at $879,409.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

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.