California Public Employees Retirement System Raises Stake in OGE Energy Corp. (NYSE:OGE)

California Public Employees Retirement System raised its stake in OGE Energy Corp. (NYSE:OGE - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,095,069 shares of the utilities provider's stock after buying an additional 48,629 shares during the quarter. California Public Employees Retirement System owned about 0.55% of OGE Energy worth $38,251,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. ClearBridge Investments Ltd boosted its holdings in OGE Energy by 3.9% during the third quarter. ClearBridge Investments Ltd now owns 6,684,861 shares of the utilities provider's stock worth $222,806,000 after purchasing an additional 252,456 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in OGE Energy by 28.6% during the third quarter. Thompson Siegel & Walmsley LLC now owns 3,083,472 shares of the utilities provider's stock worth $102,772,000 after purchasing an additional 686,174 shares during the last quarter. Invesco Ltd. boosted its holdings in OGE Energy by 13.4% during the third quarter. Invesco Ltd. now owns 1,842,045 shares of the utilities provider's stock worth $61,395,000 after purchasing an additional 217,866 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in OGE Energy by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 1,389,835 shares of the utilities provider's stock worth $46,323,000 after purchasing an additional 15,699 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in OGE Energy by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,263,329 shares of the utilities provider's stock worth $42,107,000 after purchasing an additional 18,122 shares during the last quarter. Institutional investors own 71.84% of the company's stock.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the transaction, the vice president now directly owns 25,926 shares of the company's stock, valued at $879,409.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. TheStreet cut shares of OGE Energy from a "b" rating to a "c+" rating in a report on Wednesday, February 21st. StockNews.com raised shares of OGE Energy from a "sell" rating to a "hold" rating in a research report on Tuesday. Barclays lowered shares of OGE Energy from an "overweight" rating to an "equal weight" rating and set a $34.00 price target on the stock. in a research report on Monday, April 22nd. Finally, LADENBURG THALM/SH SH lowered shares of OGE Energy from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $36.00 to $34.00 in a research report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, OGE Energy currently has a consensus rating of "Hold" and a consensus target price of $33.40.

OGE Energy Stock Performance

Shares of OGE traded down $0.66 during trading hours on Friday, hitting $33.82. The company had a trading volume of 1,190,658 shares, compared to its average volume of 1,434,453. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 3.23 and a beta of 0.73. The business has a fifty day moving average of $33.64 and a 200-day moving average of $34.08. OGE Energy Corp. has a 12 month low of $31.25 and a 12 month high of $38.04. The company has a quick ratio of 0.30, a current ratio of 0.65 and a debt-to-equity ratio of 0.96.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $566.70 million for the quarter, compared to analyst estimates of $986.67 million. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The company's revenue was down 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. Equities analysts anticipate that OGE Energy Corp. will post 2.13 EPS for the current fiscal year.

OGE Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 8th were given a $0.418 dividend. This represents a $1.67 annualized dividend and a dividend yield of 4.94%. The ex-dividend date was Friday, April 5th. OGE Energy's payout ratio is presently 80.68%.

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.