Teacher Retirement System of Texas lifted its stake in OGE Energy Corp. (NYSE:OGE) by 543.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 284,343 shares of the utilities provider’s stock after buying an additional 240,141 shares during the period. Teacher Retirement System of Texas owned about 0.14% of OGE Energy worth $10,012,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of OGE. BlackRock Inc. raised its holdings in shares of OGE Energy by 9.0% in the 1st quarter. BlackRock Inc. now owns 23,784,701 shares of the utilities provider’s stock worth $779,426,000 after buying an additional 1,963,744 shares in the last quarter. Zimmer Partners LP raised its holdings in shares of OGE Energy by 90.4% in the 1st quarter. Zimmer Partners LP now owns 1,190,000 shares of the utilities provider’s stock worth $38,996,000 after buying an additional 565,000 shares in the last quarter. First Quadrant L P CA raised its holdings in shares of OGE Energy by 208.6% in the 2nd quarter. First Quadrant L P CA now owns 479,839 shares of the utilities provider’s stock worth $16,895,000 after buying an additional 324,336 shares in the last quarter. Centenus Global Management LP acquired a new position in shares of OGE Energy in the 1st quarter worth approximately $9,913,000. Finally, Natixis raised its holdings in shares of OGE Energy by 3,014.3% in the 1st quarter. Natixis now owns 254,653 shares of the utilities provider’s stock worth $8,259,000 after buying an additional 246,476 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.
OGE has been the subject of a number of recent research reports. Zacks Investment Research raised OGE Energy from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Tuesday, April 24th. ValuEngine cut OGE Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Goldman Sachs Group cut OGE Energy from a “buy” rating to a “neutral” rating in a report on Sunday, June 24th. They noted that the move was a valuation call. Bank of America raised their price target on OGE Energy from $36.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, June 19th. Finally, UBS Group raised their price target on OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $36.83.
OGE stock opened at $37.56 on Friday. OGE Energy Corp. has a fifty-two week low of $29.59 and a fifty-two week high of $37.69. The firm has a market cap of $7.37 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 3.75 and a beta of 0.66. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 0.64.
OGE Energy (NYSE:OGE) last released its quarterly earnings results on Thursday, August 9th. The utilities provider reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). OGE Energy had a net margin of 28.26% and a return on equity of 10.74%. The business had revenue of $567.00 million for the quarter, compared to analyst estimates of $592.64 million. During the same period in the prior year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. equities research analysts expect that OGE Energy Corp. will post 2.04 EPS for the current fiscal year.
In other OGE Energy news, VP Jerry A. Peace sold 2,513 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $36.71, for a total value of $92,252.23. Following the transaction, the vice president now directly owns 11,125 shares in the company, valued at approximately $408,398.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Patricia D. Horn sold 3,715 shares of the stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $37.00, for a total value of $137,455.00. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by company insiders.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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