Public Employees Retirement System of Ohio Lowers Stock Position in OGE Energy Corporation $OGE

Public Employees Retirement System of Ohio lowered its position in OGE Energy Corporation (NYSE:OGE) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,044 shares of the utilities provider’s stock after selling 2,107 shares during the period. Public Employees Retirement System of Ohio’s holdings in OGE Energy were worth $3,153,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in OGE. Boston Partners raised its holdings in shares of OGE Energy by 29.1% in the first quarter. Boston Partners now owns 5,401,857 shares of the utilities provider’s stock valued at $248,209,000 after purchasing an additional 1,219,062 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in OGE Energy during the first quarter valued at about $40,429,000. Nuveen LLC bought a new position in OGE Energy during the first quarter valued at about $24,141,000. Goldman Sachs Group Inc. grew its position in OGE Energy by 54.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock valued at $47,966,000 after buying an additional 367,960 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in OGE Energy by 5.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,538,826 shares of the utilities provider’s stock valued at $300,525,000 after buying an additional 364,268 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on OGE. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Barclays upgraded shares of OGE Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $45.72 on Thursday. The company has a 50 day moving average of $44.89 and a 200 day moving average of $44.59. The stock has a market cap of $9.21 billion, a P/E ratio of 18.74, a P/E/G ratio of 3.22 and a beta of 0.59. OGE Energy Corporation has a 12 month low of $39.10 and a 12 month high of $46.91. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.05). The firm had revenue of $741.60 million for the quarter, compared to analysts’ expectations of $719.97 million. OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. OGE Energy’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. As a group, sell-side analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a dividend of $0.425 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, October 6th. OGE Energy’s dividend payout ratio is presently 68.85%.

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.