OGE Energy Corp. (NYSE:OGE) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its holdings in OGE Energy Corp. (NYSE:OGE) by 1.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,990 shares of the utilities provider’s stock after selling 1,038 shares during the quarter. Arizona State Retirement System’s holdings in OGE Energy were worth $1,956,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Tectonic Advisors LLC raised its holdings in OGE Energy by 5.6% in the 4th quarter. Tectonic Advisors LLC now owns 10,616 shares of the utilities provider’s stock worth $371,000 after purchasing an additional 563 shares during the period. Pacer Advisors Inc. raised its holdings in shares of OGE Energy by 126.4% during the fourth quarter. Pacer Advisors Inc. now owns 37,968 shares of the utilities provider’s stock valued at $1,326,000 after acquiring an additional 21,201 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of OGE Energy by 4.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 46,663 shares of the utilities provider’s stock valued at $1,630,000 after acquiring an additional 1,849 shares during the last quarter. Raymond James & Associates raised its holdings in shares of OGE Energy by 63.6% during the fourth quarter. Raymond James & Associates now owns 186,784 shares of the utilities provider’s stock valued at $6,524,000 after acquiring an additional 72,632 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of OGE Energy during the fourth quarter valued at approximately $231,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com cut OGE Energy from a “hold” rating to a “sell” rating in a report on Friday, April 5th. TheStreet cut OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. LADENBURG THALM/SH SH cut OGE Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $36.00 to $34.00 in a report on Tuesday, January 16th. Finally, Barclays cut their price target on OGE Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.40.

Insider Buying and Selling

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value of $142,023.04. Following the completion of the transaction, the vice president now directly owns 25,926 shares in the company, valued at $879,409.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by company insiders.

OGE Energy Price Performance

NYSE:OGE opened at $33.08 on Friday. OGE Energy Corp. has a one year low of $31.25 and a one year high of $38.95. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.30 and a current ratio of 0.65. The stock has a market cap of $6.63 billion, a PE ratio of 15.98, a P/E/G ratio of 3.19 and a beta of 0.73. The stock has a 50 day moving average price of $33.46 and a 200 day moving average price of $34.04.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The firm had revenue of $566.70 million during the quarter, compared to analysts’ expectations of $986.67 million. OGE Energy had a return on equity of 9.37% and a net margin of 15.59%. The business’s revenue for the quarter was down 20.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. Equities research analysts expect that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

OGE Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 8th will be given a $0.418 dividend. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.67 annualized dividend and a yield of 5.05%. OGE Energy’s payout ratio is 80.68%.

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.