OGE Energy Corporation (NYSE:OGE) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 29.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,932 shares of the utilities provider's stock after selling 25,884 shares during the period. Teacher Retirement System of Texas' holdings in OGE Energy were worth $2,892,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in shares of OGE Energy during the fourth quarter worth approximately $27,000. Bessemer Group Inc. boosted its stake in OGE Energy by 102.0% during the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 361 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in OGE Energy during the 1st quarter worth $31,000. Lee Danner & Bass Inc. bought a new stake in shares of OGE Energy in the 4th quarter worth about $45,000. Finally, NBT Bank N A NY raised its stake in shares of OGE Energy by 100.0% in the 1st quarter. NBT Bank N A NY now owns 1,200 shares of the utilities provider's stock valued at $55,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

OGE has been the subject of several research analyst reports. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a report on Friday, May 9th. Wells Fargo & Company boosted their price target on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Finally, Argus raised shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.80.

OGE Energy Stock Performance

Shares of NYSE OGE traded down $0.23 during mid-day trading on Friday, hitting $44.29. The company had a trading volume of 730,017 shares, compared to its average volume of 1,114,492. OGE Energy Corporation has a 12 month low of $36.17 and a 12 month high of $46.91. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 3.09 and a beta of 0.59. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.73 and a quick ratio of 0.47. The firm's 50 day simple moving average is $44.19 and its two-hundred day simple moving average is $43.84.

OGE Energy (NYSE:OGE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. The company had revenue of $747.70 million for the quarter, compared to analysts' expectations of $695.59 million. During the same period last year, the business posted $0.09 earnings per share. The firm's quarterly revenue was up 25.3% compared to the same quarter last year. As a group, equities research analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.80%. OGE Energy's dividend payout ratio (DPR) is presently 69.42%.

Insider Activity at OGE Energy

In other news, VP Donnie O. Jones sold 11,351 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the completion of the transaction, the vice president owned 43,932 shares of the company's stock, valued at approximately $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider William H. Sultemeier sold 6,650 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the transaction, the insider directly owned 72,548 shares in the company, valued at $3,303,835.92. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.55% of the company's stock.

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.