New York State Teachers Retirement System Cuts Holdings in OGE Energy Corp. (NYSE:OGE)

New York State Teachers Retirement System lessened its stake in OGE Energy Corp. (NYSE:OGE) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,042 shares of the utilities provider’s stock after selling 20,791 shares during the period. New York State Teachers Retirement System owned approximately 0.14% of OGE Energy worth $11,118,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its stake in OGE Energy by 23.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after buying an additional 278 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of OGE Energy by 3.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider’s stock worth $342,000 after acquiring an additional 290 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of OGE Energy by 3.2% in the 2nd quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider’s stock worth $352,000 after acquiring an additional 303 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of OGE Energy by 12.8% in the 2nd quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock worth $94,000 after acquiring an additional 312 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its holdings in shares of OGE Energy by 5.3% in the 2nd quarter. Raymond James Trust N.A. now owns 6,970 shares of the utilities provider’s stock worth $249,000 after acquiring an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Trading Down 0.8 %

NYSE:OGE opened at $39.66 on Friday. The company has a fifty day moving average of $40.31 and a 200 day moving average of $37.78. OGE Energy Corp. has a 52 week low of $32.06 and a 52 week high of $41.48. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $7.97 billion, a P/E ratio of 19.44, a P/E/G ratio of 3.56 and a beta of 0.74.

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

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued a dividend of $0.4213 per share. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend was Monday, October 7th. OGE Energy’s dividend payout ratio is currently 82.35%.

Analyst Ratings Changes

OGE has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Barclays boosted their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group initiated coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $39.40.

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.