VIRGINIA RETIREMENT SYSTEMS ET Al Invests $4.70 Million in OGE Energy Corporation $OGE

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of OGE Energy Corporation (NYSE:OGE) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 96,600 shares of the utilities provider’s stock, valued at approximately $4,701,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in OGE Energy during the second quarter worth about $1,277,554,000. California State Teachers Retirement System lifted its holdings in shares of OGE Energy by 4,758.9% in the 2nd quarter. California State Teachers Retirement System now owns 11,614,315 shares of the utilities provider’s stock worth $565,153,000 after acquiring an additional 11,375,283 shares during the last quarter. State Street Corp boosted its position in shares of OGE Energy by 1.8% during the 4th quarter. State Street Corp now owns 6,713,937 shares of the utilities provider’s stock worth $286,685,000 after purchasing an additional 117,977 shares during the period. Boston Partners boosted its position in shares of OGE Energy by 0.5% during the 3rd quarter. Boston Partners now owns 6,279,360 shares of the utilities provider’s stock worth $290,530,000 after purchasing an additional 31,138 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in OGE Energy by 8.3% in the 4th quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider’s stock valued at $266,473,000 after purchasing an additional 479,278 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Insider Activity at OGE Energy

In other news, SVP Donnie Jones sold 6,508 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the transaction, the senior vice president directly owned 40,555 shares of the company’s stock, valued at approximately $1,869,991.05. The trade was a 13.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company’s stock.

OGE Energy Stock Down 1.0%

Shares of NYSE OGE opened at $46.92 on Thursday. The stock has a market cap of $9.69 billion, a P/E ratio of 20.67, a PEG ratio of 3.11 and a beta of 0.52. The business’s fifty day simple moving average is $47.61 and its 200-day simple moving average is $47.79. OGE Energy Corporation has a 12-month low of $41.69 and a 12-month high of $50.59. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12.

OGE Energy (NYSE:OGE) last released its 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. The firm had revenue of $711.90 million during the quarter, compared to analysts’ expectations of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.OGE Energy’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. As a group, equities analysts predict that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OGE shares. Barclays boosted their target price on OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. dropped their price objective on OGE Energy from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Morgan Stanley cut their price target on shares of OGE Energy from $51.00 to $49.00 and set an “equal weight” rating on the stock 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.10.

About OGE Energy

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.