OGE Energy Corp. (NYSE:OGE) Stake Boosted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its holdings in OGE Energy Corp. (NYSE:OGE) by 17.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,123 shares of the utilities provider’s stock after buying an additional 17,578 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of OGE Energy worth $4,217,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners lifted its position in OGE Energy by 3.8% in the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock worth $130,878,000 after purchasing an additional 139,872 shares during the period. Franklin Resources Inc. increased its stake in OGE Energy by 3.3% in the 4th quarter. Franklin Resources Inc. now owns 1,873,306 shares of the utilities provider’s stock valued at $65,435,000 after buying an additional 59,329 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of OGE Energy by 11.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,419,650 shares of the utilities provider’s stock worth $49,589,000 after acquiring an additional 144,487 shares in the last quarter. Norges Bank acquired a new position in OGE Energy in the 4th quarter worth about $49,274,000. Finally, Assetmark Inc. raised its stake in shares of OGE Energy by 1.7% during the 4th quarter. Assetmark Inc. now owns 1,023,969 shares of the utilities provider’s stock worth $35,767,000 after purchasing an additional 17,545 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on OGE shares. Evercore ISI raised their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, August 8th. Barclays raised their price target on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Argus downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and a consensus price target of $35.33.

OGE Energy Price Performance

Shares of OGE Energy stock opened at $41.19 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 3.74 and a beta of 0.74. OGE Energy Corp. has a 1-year low of $31.25 and a 1-year high of $41.48. The firm’s 50-day moving average price is $38.66 and its two-hundred day moving average price is $36.16.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The business had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $837.51 million. During the same period in the prior year, the firm earned $0.44 earnings per share. OGE Energy’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

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.