VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $4.70 Million Investment in OGE Energy Corporation $OGE

Key Points

• Virginia Retirement Systems acquired 96,600 OGE Energy shares worth approximately $4.7 million, while institutional investors collectively own 71.84% of the utility company.
• Analyst sentiment remains mixed: five analysts rate OGE a Buy and six rate it a Hold, producing a consensus Hold rating and an average price target of $50.10.
• OGE reported quarterly EPS of $0.56, slightly above estimates, but revenue fell 4% year over year to $711.9 million. Shares opened at $46.92, down about 1%, while an insider separately sold roughly $300,000 in stock.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 96,600 shares of the utilities provider's stock, valued at approximately $4,701,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new position in OGE Energy in the 2nd quarter worth about $1,277,554,000. California State Teachers Retirement System grew its holdings in OGE Energy by 4,758.9% in the second quarter. California State Teachers Retirement System now owns 11,614,315 shares of the utilities provider's stock valued at $565,153,000 after purchasing an additional 11,375,283 shares during the period. State Street Corp increased its position in shares of OGE Energy by 1.8% in the fourth quarter. State Street Corp now owns 6,713,937 shares of the utilities provider's stock valued at $286,685,000 after buying an additional 117,977 shares in the last quarter. Boston Partners increased its position in shares of 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 buying an additional 31,138 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of OGE Energy by 8.3% during the 4th quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider's stock worth $266,473,000 after buying an additional 479,278 shares during the period. Institutional investors and hedge funds own 71.84% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of OGE Energy in a report on Friday, July 31st. Wall Street Zen raised shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Barclays upped their price target 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. BMO Capital Markets decreased their price target 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, July 22nd. Finally, Morgan Stanley cut their price objective on 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. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, OGE Energy has a consensus rating of "Hold" and an average target price of $50.10.

OGE Energy Stock Down 1.0%

Shares of OGE opened at $46.92 on Thursday. OGE Energy Corporation has a 52-week low of $41.69 and a 52-week high of $50.59. The company has a market capitalization of $9.69 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 3.11 and a beta of 0.52. The stock has a fifty day simple moving average of $47.61 and a two-hundred day simple moving average of $47.79. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12.

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

Insider Buying and Selling

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of OGE Energy stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $46.11, for a total transaction of $300,083.88. Following the transaction, the senior vice president directly owned 40,555 shares of the company's stock, valued at $1,869,991.05. The trade was a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is owned by company insiders.

OGE Energy Company 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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