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

Key Points

• Louisiana State Employees Retirement System bought a new stake in OGE Energy during the first quarter, acquiring 59,600 shares valued at about $2.86 million.
• OGE Energy reported quarterly earnings of $0.24 per share, matching analyst expectations, while revenue came in at $752.6 million, above estimates.
• The company declared a quarterly dividend of $0.425 per share, equal to a 3.4% annualized yield, even as analysts currently have a consensus Hold rating on the stock.

Louisiana State Employees Retirement System acquired a new stake in OGE Energy Corporation (NYSE:OGE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 59,600 shares of the utilities provider's stock, valued at approximately $2,858,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of OGE Energy by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 21,500,675 shares of the utilities provider's stock valued at $918,079,000 after purchasing an additional 304,080 shares during the period. State Street Corp grew its stake in shares of OGE Energy by 1.8% during the fourth quarter. State Street Corp now owns 6,713,937 shares of the utilities provider's stock worth $286,685,000 after purchasing an additional 117,977 shares during the period. Boston Partners increased its holdings in OGE Energy by 0.5% in the third quarter. Boston Partners now owns 6,279,360 shares of the utilities provider's stock valued at $290,530,000 after purchasing an additional 31,138 shares during the last quarter. Clearbridge Investments LLC increased its holdings in OGE Energy by 8.3% in the fourth quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider's stock valued at $266,473,000 after purchasing an additional 479,278 shares during the last quarter. Finally, Morgan Stanley lifted its stake in OGE Energy by 103.2% in the fourth quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider's stock valued at $197,625,000 after buying an additional 2,350,574 shares during the period. 71.84% of the stock is owned by institutional investors.

Insider Activity at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the completion of the transaction, the insider directly owned 74,497 shares of the company's stock, valued at $3,573,621.09. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is currently owned by company insiders.

OGE Energy Stock Down 0.1%

OGE Energy stock opened at $49.52 on Monday. The company has a 50 day moving average of $47.59 and a 200-day moving average of $46.28. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.09. OGE Energy Corporation has a twelve month low of $41.69 and a twelve month high of $50.13. The stock has a market capitalization of $10.22 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 3.67 and a beta of 0.53.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $616.02 million. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The firm's quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $0.31 earnings per share. On average, equities research analysts anticipate that OGE Energy Corporation will post 2.43 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, July 6th. OGE Energy's payout ratio is 75.89%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on OGE Energy from $49.00 to $51.00 and gave the stock an "overweight" rating in a research report on Monday, April 20th. LADENBURG THALM/SH SH lifted their price objective on shares of OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Weiss Ratings upgraded shares of OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Morgan Stanley assumed coverage on shares of OGE Energy in a research note on Wednesday, June 24th. They issued an "equal weight" rating and a $50.00 target price for the company. Finally, Wall Street Zen lowered shares of OGE Energy from a "hold" rating to a "sell" rating in a report on Sunday, June 21st. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $49.20.

OGE Energy 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.

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