California State Teachers Retirement System cut its holdings in OGE Energy Corporation (NYSE:OGE) by 9.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 367,845 shares of the utilities provider’s stock after selling 40,216 shares during the period. California State Teachers Retirement System owned about 0.18% of OGE Energy Corporation worth $12,797,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in OGE. Mercer Capital Advisers Inc. grew its holdings in OGE Energy Corporation by 0.7% during the second quarter. Mercer Capital Advisers Inc. now owns 7,060 shares of the utilities provider’s stock valued at $246,000 after purchasing an additional 47 shares during the period. Capstone Asset Management Co. grew its holdings in OGE Energy Corporation by 0.3% during the second quarter. Capstone Asset Management Co. now owns 18,899 shares of the utilities provider’s stock valued at $657,000 after purchasing an additional 60 shares during the period. Torch Wealth Management LLC grew its holdings in OGE Energy Corporation by 0.9% during the second quarter. Torch Wealth Management LLC now owns 8,391 shares of the utilities provider’s stock valued at $292,000 after purchasing an additional 73 shares during the period. IFP Advisors Inc grew its holdings in OGE Energy Corporation by 0.8% during the second quarter. IFP Advisors Inc now owns 10,694 shares of the utilities provider’s stock valued at $372,000 after purchasing an additional 80 shares during the period. Finally, Bank of Montreal Can grew its holdings in OGE Energy Corporation by 0.6% during the second quarter. Bank of Montreal Can now owns 17,806 shares of the utilities provider’s stock valued at $619,000 after purchasing an additional 107 shares during the period. 62.53% of the stock is owned by institutional investors.

Several brokerages have weighed in on OGE. BidaskClub raised OGE Energy Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Goldman Sachs Group Inc began coverage on OGE Energy Corporation in a report on Thursday, July 20th. They set a “neutral” rating and a $35.00 price objective for the company. Jefferies Group LLC reissued a “hold” rating and set a $37.00 price objective (up from $35.00) on shares of OGE Energy Corporation in a report on Wednesday, August 9th. Zacks Investment Research lowered OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Evercore ISI began coverage on OGE Energy Corporation in a report on Monday, July 24th. They set an “outperform” rating and a $37.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

OGE Energy Corporation (NYSE OGE) opened at 37.09 on Friday. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 19.42 and a beta of 0.88. The stock has a 50 day moving average price of $36.24 and a 200-day moving average price of $35.45. OGE Energy Corporation has a 12-month low of $29.57 and a 12-month high of $37.41.

OGE Energy Corporation (NYSE:OGE) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The firm had revenue of $586.40 million during the quarter, compared to the consensus estimate of $563.00 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts predict that OGE Energy Corporation will post $1.97 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.333 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, October 6th. OGE Energy Corporation’s payout ratio is 69.63%.

In other news, insider H Scott Forbes sold 4,670 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.19, for a total transaction of $169,007.30. Following the completion of the sale, the insider now owns 18,311 shares of the company’s stock, valued at approximately $662,675.09. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Luke R. Corbett sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total transaction of $45,387.50. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by Daily Political and is the property of of Daily Political. If you are reading this piece on another publication, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.dailypolitical.com/2017/10/21/oge-energy-corporation-oge-stake-lessened-by-california-state-teachers-retirement-system.html.

OGE Energy Corporation Company Profile

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.

Institutional Ownership by Quarter for OGE Energy Corporation (NYSE:OGE)

Receive News & Ratings for OGE Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.