Ontario Teachers Pension Plan Board Reduces Position in OGE Energy Corp. (NYSE:OGE)

Ontario Teachers Pension Plan Board lessened its holdings in OGE Energy Corp. (NYSE:OGE - Free Report) by 73.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 71,146 shares of the utilities provider's stock after selling 200,591 shares during the period. Ontario Teachers Pension Plan Board's holdings in OGE Energy were worth $2,918,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in shares of OGE Energy during the third quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of OGE Energy during the second quarter valued at about $35,000. Kimelman & Baird LLC purchased a new position in shares of OGE Energy during the second quarter valued at about $38,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 valued at $53,000 after acquiring an additional 278 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of OGE Energy in the 3rd quarter valued at about $63,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on OGE shares. Evercore ISI increased their price target on shares of OGE Energy from $36.00 to $40.00 and gave the company an "in-line" rating in a report on Thursday, August 8th. Jefferies Financial Group started coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a "buy" rating and a $46.00 price target for the company. Finally, Barclays increased their price target on shares of OGE Energy from $39.00 to $42.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $39.40.

OGE Energy Trading Down 0.1 %

NYSE OGE traded down $0.06 during trading on Wednesday, hitting $43.11. The stock had a trading volume of 589,551 shares, compared to its average volume of 1,296,296. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 3.85 and a beta of 0.74. OGE Energy Corp. has a one year low of $32.06 and a one year high of $44.09. The stock has a 50 day simple moving average of $41.04 and a 200 day simple moving average of $38.57.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The company had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm posted $1.20 EPS. The business's revenue was up 2.1% on a year-over-year basis. Sell-side analysts predict that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were given a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, October 7th. This is an increase from OGE Energy's previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a yield of 3.91%. OGE Energy's payout ratio is currently 87.05%.

Insider Activity at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the transaction, the vice president now owns 20,918 shares in the company, valued at approximately $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is currently owned by insiders.

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.