VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in OGE Energy Corporation $OGE

Key Points

• The Virginia Retirement Systems purchased a new stake in OGE Energy Corporation, acquiring 66,700 shares valued at approximately $2,960,000.
• OGE Energy recently declared a quarterly dividend of $0.425 per share, an increase from its previous dividend, with a current dividend yield of 3.6%.
• In the most recent quarterly earnings, OGE Energy reported an EPS of $0.53, falling short of analysts' estimates, although revenue increased by 11.9% year-over-year.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in OGE Energy Corporation (NYSE:OGE - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 66,700 shares of the utilities provider's stock, valued at approximately $2,960,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. boosted its holdings in shares of OGE Energy by 45.9% in the 1st quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider's stock valued at $48,000 after buying an additional 328 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of OGE Energy in the 1st quarter valued at about $385,000. Inspire Investing LLC boosted its holdings in shares of OGE Energy by 100.2% in the 1st quarter. Inspire Investing LLC now owns 32,247 shares of the utilities provider's stock valued at $1,482,000 after buying an additional 16,141 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of OGE Energy by 40.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,352 shares of the utilities provider's stock valued at $1,928,000 after buying an additional 12,430 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of OGE Energy by 18,212.6% in the 1st quarter. Acadian Asset Management LLC now owns 74,349 shares of the utilities provider's stock valued at $3,411,000 after buying an additional 73,943 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Up 0.4%

OGE stock opened at $46.67 on Tuesday. OGE Energy Corporation has a 52 week low of $39.10 and a 52 week high of $47.33. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 3.23 and a beta of 0.59. The firm's 50-day moving average is $45.12 and its two-hundred day moving average is $44.67. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16.

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

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a dividend of $0.425 per share. This is a positive change from OGE Energy's previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.6%. OGE Energy's payout ratio is presently 69.67%.

Wall Street Analyst Weigh In

Several research firms have recently commented on OGE. UBS Group lifted their price target on shares of OGE Energy from $46.00 to $47.00 and gave the company a "neutral" rating in a report on Friday, October 10th. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of OGE Energy in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.00.

About OGE Energy

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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