New York State Teachers Retirement System lowered its position in OGE Energy Corporation (NYSE:OGE) by 0.5% during the first quarter, Holdings Channel reports. The institutional investor owned 301,036 shares of the utilities provider’s stock after selling 1,500 shares during the period. New York State Teachers Retirement System’s holdings in OGE Energy Corporation were worth $10,530,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mercer Capital Advisers Inc. raised its position in OGE Energy Corporation by 0.7% in the first quarter. Mercer Capital Advisers Inc. now owns 7,013 shares of the utilities provider’s stock worth $245,000 after buying an additional 48 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in OGE Energy Corporation by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,326 shares of the utilities provider’s stock worth $174,000 after buying an additional 207 shares in the last quarter. World Asset Management Inc raised its position in OGE Energy Corporation by 1.6% in the first quarter. World Asset Management Inc now owns 13,719 shares of the utilities provider’s stock worth $480,000 after buying an additional 215 shares in the last quarter. Suntrust Banks Inc. raised its position in OGE Energy Corporation by 2.8% in the first quarter. Suntrust Banks Inc. now owns 10,883 shares of the utilities provider’s stock worth $379,000 after buying an additional 299 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its position in OGE Energy Corporation by 0.4% in the first quarter. Gulf International Bank UK Ltd now owns 70,994 shares of the utilities provider’s stock worth $2,483,000 after buying an additional 300 shares in the last quarter. 62.60% of the stock is owned by hedge funds and other institutional investors.
Shares of OGE Energy Corporation (NYSE:OGE) traded up 1.17% on Friday, hitting $36.41. 1,674,578 shares of the stock were exchanged. OGE Energy Corporation has a one year low of $29.57 and a one year high of $37.40. The company has a 50-day moving average price of $34.86 and a 200-day moving average price of $34.54. The firm has a market capitalization of $7.27 billion, a PE ratio of 20.93 and a beta of 0.83.
OGE Energy Corporation (NYSE:OGE) last announced its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. OGE Energy Corporation had a net margin of 15.29% and a return on equity of 10.22%. The company had revenue of $456 million during the quarter. During the same period last year, the business earned $0.13 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that OGE Energy Corporation will post $1.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Monday, July 10th will be issued a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Thursday, July 6th. OGE Energy Corporation’s payout ratio is 69.54%.
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A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. Jefferies Group LLC reissued a “hold” rating and set a $35.00 target price on shares of OGE Energy Corporation in a research report on Monday, May 15th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $34.25.
About OGE Energy Corporation
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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