California State Teachers Retirement System Has $565.15 Million Stake in OGE Energy Corporation $OGE

Key Points

• California State Teachers Retirement System sharply increased its OGE Energy stake by 4,758.9% in the second quarter, acquiring 11.38 million additional shares. Its 11.61 million shares were valued at $565.15 million, representing a 5.62% ownership interest.
• OGE Energy reported quarterly EPS of $0.56, slightly above analyst expectations, but revenue of $711.9 million fell short of estimates and declined 4% year over year. The stock opened at $46.21, below its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed, with five Buy ratings and six Holds; the average price target is $50.10. Recent targets range from $49 to $54, while an OGE senior vice president sold shares valued at approximately $300,000.

California State Teachers Retirement System grew its holdings in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 4,758.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,614,315 shares of the utilities provider's stock after buying an additional 11,375,283 shares during the quarter. California State Teachers Retirement System owned 5.62% of OGE Energy worth $565,153,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in OGE. Strs Ohio increased its stake in OGE Energy by 4.5% in the 1st quarter. Strs Ohio now owns 5,029 shares of the utilities provider's stock valued at $241,000 after buying an additional 217 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in OGE Energy by 3.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 6,740 shares of the utilities provider's stock worth $323,000 after acquiring an additional 218 shares during the period. Pacer Advisors Inc. boosted its position in OGE Energy by 1.3% in the first quarter. Pacer Advisors Inc. now owns 24,399 shares of the utilities provider's stock worth $1,170,000 after purchasing an additional 305 shares during the last quarter. Root Financial Partners LLC boosted its position in 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 purchasing an additional 315 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in OGE Energy by 0.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 77,973 shares of the utilities provider's stock valued at $3,740,000 after purchasing an additional 398 shares during the period. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Trading Down 0.7%

OGE Energy stock opened at $46.21 on Tuesday. The firm has a 50 day moving average of $47.46 and a 200 day moving average of $47.76. OGE Energy Corporation has a 12-month low of $41.69 and a 12-month high of $50.59. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 3.06 and a beta of 0.52. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12.

OGE Energy (NYSE:OGE - Get Free Report) last announced its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The firm had revenue of $711.90 million during the quarter, compared to analysts' expectations of $782.73 million. During the same quarter in the previous year, the business earned $0.53 EPS. The company's quarterly revenue was down 4.0% on a year-over-year basis. As a group, research analysts predict that OGE Energy Corporation will post 2.42 earnings per share for the current year.

Insider Activity at OGE Energy

In other news, SVP Donnie Jones sold 6,508 shares of OGE Energy stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total value of $300,083.88. Following the transaction, the senior vice president directly owned 40,555 shares in the company, valued at approximately $1,869,991.05. This trade represents a 13.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on OGE shares. Barclays boosted their price objective on OGE Energy from $51.00 to $52.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Morgan Stanley reduced their price objective on shares of OGE Energy from $51.00 to $49.00 and set an "equal weight" rating for the company in a research note on Friday, August 21st. Royal Bank Of Canada raised shares of OGE Energy from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $50.00 to $54.00 in a report on Wednesday, September 2nd. BMO Capital Markets dropped their price objective on OGE Energy from $50.00 to $49.00 and set a "market perform" rating for the company in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of OGE Energy from $55.00 to $54.00 and set an "overweight" rating on the stock in a report on Wednesday, September 9th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, OGE Energy presently has an average rating of "Hold" and an average target price of $50.10.

About OGE Energy

OGE Energy Corp. is an Oklahoma City-based energy holding company whose principal subsidiary is Oklahoma Gas and Electric Company (OG&E). 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 portfolio of power-generation resources, electric transmission and distribution infrastructure, and related customer and energy-management services.

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