Texas Permanent School Fund Corp Increases Stake in OGE Energy Corp. (NYSE:OGE)

Texas Permanent School Fund Corp lifted its stake in OGE Energy Corp. (NYSE:OGE) by 1.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 175,289 shares of the utilities provider’s stock after buying an additional 2,269 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.09% of OGE Energy worth $6,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OGE. Smith Graham & Co. Investment Advisors LP purchased a new stake in OGE Energy in the 4th quarter worth $3,227,000. TD Asset Management Inc bought a new position in OGE Energy during the fourth quarter valued at approximately $1,965,000. Charles Schwab Investment Management Inc. grew its holdings in OGE Energy by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,306,982 shares of the utilities provider’s stock valued at $45,653,000 after buying an additional 43,653 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in OGE Energy by 11.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,650 shares of the utilities provider’s stock worth $49,589,000 after acquiring an additional 144,487 shares during the last quarter. Finally, TCG Advisory Services LLC raised its holdings in shares of OGE Energy by 2,422.2% during the 4th quarter. TCG Advisory Services LLC now owns 154,030 shares of the utilities provider’s stock worth $5,380,000 after acquiring an additional 147,923 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on OGE. StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Argus cut shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Barclays lifted their price target on OGE Energy from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 18th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $33.60.

OGE Energy Trading Up 0.1 %

OGE Energy stock traded up $0.03 during mid-day trading on Friday, hitting $36.64. The company’s stock had a trading volume of 33,031 shares, compared to its average volume of 1,458,891. OGE Energy Corp. has a one year low of $31.25 and a one year high of $37.30. The stock has a market cap of $7.35 billion, a PE ratio of 18.58, a P/E/G ratio of 3.36 and a beta of 0.74. The company has a 50 day moving average of $35.78 and a 200-day moving average of $34.46. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.51.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26). The company had revenue of $596.80 million during the quarter, compared to the consensus estimate of $607.37 million. OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, research analysts anticipate that OGE Energy Corp. will post 2.13 EPS for the current year.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 8th will be issued a $0.418 dividend. The ex-dividend date is Monday, July 8th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.56%. OGE Energy’s payout ratio is 84.77%.

About OGE Energy

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.