OGE Energy Corporation $OGE Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in OGE Energy Corporation by 40.7%, selling 42,907 shares during the first quarter.
• OGE Energy's stock has shown a price fluctuation ranging from a low of $38.94 to a high of $46.91 over the past twelve months.
• Equities analysts have generally upgraded OGE Energy's rating, with a current average target price of $46.80 reflecting a "Moderate Buy" consensus.

State of New Jersey Common Pension Fund D lessened its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 40.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,502 shares of the utilities provider's stock after selling 42,907 shares during the period. State of New Jersey Common Pension Fund D's holdings in OGE Energy were worth $2,873,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers increased its stake in shares of OGE Energy by 10.8% in the fourth quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider's stock worth $2,592,000 after buying an additional 6,135 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of OGE Energy by 45.9% in the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider's stock worth $48,000 after buying an additional 328 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of OGE Energy in the first quarter worth $305,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of OGE Energy by 19.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,922 shares of the utilities provider's stock worth $1,421,000 after buying an additional 5,043 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of OGE Energy by 26.2% in the fourth quarter. Hsbc Holdings PLC now owns 8,812 shares of the utilities provider's stock worth $363,000 after buying an additional 1,832 shares during the last quarter. Institutional investors own 71.84% of the company's stock.

Insider Activity

In other news, VP Donnie O. Jones sold 11,351 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total transaction of $500,125.06. Following the completion of the transaction, the vice president owned 43,932 shares of the company's stock, valued at approximately $1,935,643.92. The trade was a 20.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

OGE has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a research note on Friday, May 9th. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $45.00 to $47.00 in a research note on Thursday, June 5th. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Finally, Wells Fargo & Company boosted their target price on shares of OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $46.80.

OGE Energy Stock Performance

Shares of OGE traded down $0.04 during midday trading on Tuesday, hitting $45.12. 915,183 shares of the stock traded hands, compared to its average volume of 985,940. OGE Energy Corporation has a 1-year low of $38.94 and a 1-year high of $46.91. The firm has a market capitalization of $9.09 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 3.14 and a beta of 0.57. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78. The business's 50 day moving average price is $44.77 and its two-hundred day moving average price is $44.57.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The firm had revenue of $741.60 million for the quarter, compared to analyst estimates of $719.97 million. During the same period last year, the firm posted $0.51 EPS. The business's revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

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.