Louisiana State Employees Retirement System Acquires 300 Shares of OGE Energy Corporation $OGE

Louisiana State Employees Retirement System increased its holdings in shares of OGE Energy Corporation (NYSE:OGE) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,600 shares of the utilities provider’s stock after buying an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in OGE Energy were worth $2,512,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. QRG Capital Management Inc. grew its holdings in OGE Energy by 2.4% during the second quarter. QRG Capital Management Inc. now owns 21,329 shares of the utilities provider’s stock valued at $947,000 after purchasing an additional 495 shares during the period. Lynx Investment Advisory grew its holdings in OGE Energy by 3.7% during the second quarter. Lynx Investment Advisory now owns 24,830 shares of the utilities provider’s stock valued at $1,102,000 after purchasing an additional 891 shares during the period. Truist Financial Corp grew its holdings in OGE Energy by 6.2% during the second quarter. Truist Financial Corp now owns 22,047 shares of the utilities provider’s stock valued at $978,000 after purchasing an additional 1,287 shares during the period. ST Germain D J Co. Inc. acquired a new position in OGE Energy during the second quarter valued at approximately $89,000. Finally, Gries Financial LLC grew its holdings in OGE Energy by 2.7% during the second quarter. Gries Financial LLC now owns 28,664 shares of the utilities provider’s stock valued at $1,272,000 after purchasing an additional 750 shares during the period. 71.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on OGE shares. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a report on Wednesday. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. Finally, UBS Group boosted their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Friday. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

OGE Energy Stock Up 0.9%

Shares of OGE stock opened at $45.78 on Friday. The firm has a fifty day moving average of $45.01 and a 200-day moving average of $44.63. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. OGE Energy Corporation has a 12-month low of $39.10 and a 12-month high of $46.91. The company has a market capitalization of $9.22 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 3.15 and a beta of 0.59.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data 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 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 period in the prior year, the company earned $0.51 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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. This represents a $1.70 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, October 6th. OGE Energy’s payout ratio is currently 69.67%.

OGE Energy 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.