New York State Common Retirement Fund Cuts Stock Position in OGE Energy Corp. (NYSE:OGE)

New York State Common Retirement Fund cut its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,901 shares of the utilities provider’s stock after selling 5,500 shares during the period. New York State Common Retirement Fund’s holdings in OGE Energy were worth $3,378,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of OGE. Verition Fund Management LLC grew its position in shares of OGE Energy by 25.2% during the third quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock worth $54,087,000 after buying an additional 265,115 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of OGE Energy during the fourth quarter worth about $8,195,000. State Street Corp grew its position in shares of OGE Energy by 2.8% during the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock worth $280,425,000 after buying an additional 185,069 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in OGE Energy by 34.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 605,590 shares of the utilities provider’s stock valued at $24,841,000 after purchasing an additional 154,000 shares in the last quarter. Finally, National Bank of Canada FI acquired a new position in OGE Energy in the third quarter valued at approximately $4,106,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on OGE shares. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and upped their price target for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Barclays upped their price target on OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, OGE Energy has a consensus rating of “Hold” and a consensus target price of $45.67.

OGE Energy Price Performance

OGE stock opened at $46.26 on Friday. The company has a market capitalization of $9.30 billion, a P/E ratio of 21.03, a PEG ratio of 3.30 and a beta of 0.78. OGE Energy Corp. has a twelve month low of $32.37 and a twelve month high of $46.28. The business has a 50 day simple moving average of $42.43 and a 200-day simple moving average of $41.52. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08.

OGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, April 7th. OGE Energy’s payout ratio is currently 76.36%.

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.