State of New Jersey Common Pension Fund D Sells 42,907 Shares of OGE Energy Corporation $OGE

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 cut its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 40.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,502 shares of the utilities provider's stock after selling 42,907 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in OGE Energy were worth $2,873,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. raised its position in shares of OGE Energy by 15.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider's stock valued at $254,701,000 after purchasing an additional 844,679 shares during the period. Boston Partners raised its position 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 period. Northern Trust Corp raised its position in shares of OGE Energy by 29.3% in the fourth quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock valued at $146,933,000 after purchasing an additional 807,690 shares during the period. Dimensional Fund Advisors LP raised its position in shares of OGE Energy by 6.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,438,764 shares of the utilities provider's stock valued at $112,081,000 after purchasing an additional 137,857 shares during the period. Finally, Invesco Ltd. raised its position in shares of OGE Energy by 20.4% in the first quarter. Invesco Ltd. now owns 1,673,459 shares of the utilities provider's stock valued at $76,912,000 after purchasing an additional 283,281 shares during the period. 71.84% of the stock is owned by institutional investors.

OGE Energy Price Performance

Shares of OGE Energy stock opened at $45.2350 on Thursday. OGE Energy Corporation has a twelve month low of $38.94 and a twelve month high of $46.91. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. The company has a 50-day simple moving average of $44.68 and a two-hundred day simple moving average of $44.48. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 3.13 and a beta of 0.57.

OGE Energy (NYSE:OGE - Get Free Report) last released its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 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 during the quarter, compared to the consensus estimate of $719.97 million. During the same period in the prior year, the business earned $0.51 earnings per share. OGE Energy's quarterly revenue was up 11.9% compared to the same quarter last year. Analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current year.

Insider Buying and Selling

In other OGE Energy news, VP Donnie O. Jones sold 11,351 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total value of $500,125.06. Following the transaction, the vice president directly owned 43,932 shares of the company's stock, valued at $1,935,643.92. This trade represents a 20.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OGE shares. LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a research report on Friday, May 9th. Wells Fargo & Company raised their price target on shares of OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Finally, Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $46.80.

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.

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