New York State Teachers Retirement System Sells 9,515 Shares of OGE Energy Corporation $OGE

Key Points

• The New York State Teachers Retirement System has reduced its holdings in OGE Energy Corporation by 3.5%, now owning 261,527 shares worth approximately $11.6 million.
• OGE Energy reported a quarterly earnings per share (EPS) of $0.53, missing estimates by $0.05, but revenue increased by 11.9% year-over-year, totaling $741.6 million.
• OGE Energy announced a quarterly dividend of $0.425 per share, reflecting an increase from the previous dividend and resulting in an annualized yield of 3.7%.

New York State Teachers Retirement System reduced its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 261,527 shares of the utilities provider's stock after selling 9,515 shares during the quarter. New York State Teachers Retirement System owned about 0.13% of OGE Energy worth $11,607,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new position in OGE Energy during the 1st quarter worth $31,000. First Command Advisory Services Inc. purchased a new position in OGE Energy during the 1st quarter worth $36,000. Clearstead Trust LLC purchased a new position in OGE Energy during the 1st quarter worth $42,000. Brooklyn Investment Group increased its holdings in OGE Energy by 725.5% during the 1st quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider's stock worth $42,000 after purchasing an additional 798 shares during the period. Finally, Tompkins Financial Corp increased its holdings in OGE Energy by 42.9% during the 2nd quarter. Tompkins Financial Corp now owns 1,000 shares of the utilities provider's stock worth $44,000 after purchasing an additional 300 shares during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Up 0.1%

Shares of NYSE OGE opened at $46.47 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $9.36 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 3.23 and a beta of 0.59. The stock's fifty day simple moving average is $45.09 and its two-hundred day simple moving average is $44.66. OGE Energy Corporation has a 12-month low of $39.10 and a 12-month high of $47.33.

OGE Energy (NYSE:OGE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The company had revenue of $741.60 million for the quarter, compared to the consensus estimate of $719.97 million. During the same period last year, the business posted $0.51 EPS. The firm's revenue was up 11.9% compared to the same quarter last year. As a group, analysts expect that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $0.425 per share. The ex-dividend date is Monday, October 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.7%. This is a boost from OGE Energy's previous quarterly dividend of $0.42. OGE Energy's dividend payout ratio (DPR) is currently 69.67%.

Analysts Set New Price Targets

OGE has been the topic of several research reports. UBS Group raised their price objective on OGE Energy from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of OGE Energy in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, OGE Energy currently has an average rating of "Moderate Buy" and a consensus price target of $47.00.

OGE Energy Company 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.

Want to see what other hedge funds are holding OGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OGE Energy Corporation (NYSE:OGE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.