California Public Employees Retirement System Sells 51,146 Shares of OGE Energy Corporation $OGE

Key Points

• CalPERS reduced its OGE Energy stake by 8.9% in the first quarter, selling 51,146 shares and leaving it with 523,036 shares valued at about $25.1 million.
• OGE Energy reported mixed quarterly results with EPS of $0.24, matching analyst expectations, while revenue of $752.6 million came in above estimates; the company also guided toward full-year EPS of 2.43.
• The company declared a quarterly dividend of $0.425 per share, or $1.70 annualized, implying a 3.4% yield, while analysts currently maintain a consensus Hold rating and average price target of $49.80.

California Public Employees Retirement System decreased its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 8.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 523,036 shares of the utilities provider's stock after selling 51,146 shares during the quarter. California Public Employees Retirement System owned approximately 0.25% of OGE Energy worth $25,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kera Capital Partners Inc. bought a new stake in shares of OGE Energy during the first quarter valued at about $211,000. Bessemer Group Inc. increased its holdings in OGE Energy by 67.3% during the 1st quarter. Bessemer Group Inc. now owns 1,777 shares of the utilities provider's stock worth $85,000 after acquiring an additional 715 shares during the period. Prosperity Consulting Group LLC purchased a new stake in OGE Energy in the 1st quarter worth approximately $215,000. Sanctuary Advisors LLC lifted its stake in OGE Energy by 9.4% in the 1st quarter. Sanctuary Advisors LLC now owns 17,649 shares of the utilities provider's stock worth $846,000 after purchasing an additional 1,523 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its holdings in OGE Energy by 10.3% in the 1st quarter. Maryland State Retirement & Pension System now owns 10,304 shares of the utilities provider's stock valued at $494,000 after purchasing an additional 962 shares during the period. Institutional investors own 71.84% of the company's stock.

OGE Energy Trading Up 2.0%

NYSE:OGE opened at $49.28 on Thursday. The company has a 50-day moving average price of $48.07 and a 200-day moving average price of $47.02. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 3.57 and a beta of 0.53. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.09. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.26.

OGE Energy (NYSE:OGE - Get Free Report) last released its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, meeting analysts' consensus estimates of $0.24. The company 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%.The firm's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. Equities analysts predict that OGE Energy Corporation will post 2.43 EPS for the current year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders 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 yield of 3.4%. The ex-dividend date is Monday, July 6th. OGE Energy's dividend payout ratio is 75.89%.

Insiders Place Their Bets

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total transaction of $352,339.65. Following the completion of the transaction, the insider owned 74,497 shares of the company's stock, valued at approximately $3,573,621.09. This trade represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OGE. Wall Street Zen downgraded OGE Energy from a "hold" rating to a "sell" rating in a research report on Sunday, June 21st. BMO Capital Markets lowered their target price on shares of OGE Energy from $50.00 to $49.00 and set a "market perform" rating on the stock in a research note on Wednesday. LADENBURG THALM/SH SH boosted their price target 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. Barclays upped their target price on shares of OGE Energy from $51.00 to $52.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, OGE Energy has a consensus rating of "Hold" and an average price target of $49.80.

About OGE Energy

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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