Texas Permanent School Fund Corp Sells 25,279 Shares of OGE Energy Corporation $OGE

Texas Permanent School Fund Corp lessened its holdings in OGE Energy Corporation (NYSE:OGE) by 26.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,256 shares of the utilities provider’s stock after selling 25,279 shares during the quarter. Texas Permanent School Fund Corp’s holdings in OGE Energy were worth $3,162,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morningstar Investment Management LLC purchased a new position in OGE Energy in the 2nd quarter worth about $391,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of OGE Energy during the first quarter worth approximately $385,000. Inspire Investing LLC raised its stake in shares of OGE Energy by 100.2% during the first quarter. Inspire Investing LLC now owns 32,247 shares of the utilities provider’s stock valued at $1,482,000 after acquiring an additional 16,141 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of OGE Energy by 274.7% during the second quarter. First Citizens Bank & Trust Co. now owns 17,644 shares of the utilities provider’s stock valued at $783,000 after acquiring an additional 12,935 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of OGE Energy by 40.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,352 shares of the utilities provider’s stock valued at $1,928,000 after purchasing an additional 12,430 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

OGE opened at $42.48 on Friday. The firm has a market capitalization of $8.56 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 2.72 and a beta of 0.61. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.80 and a quick ratio of 0.52. The business’s 50-day moving average is $44.67 and its two-hundred day moving average is $44.69. OGE Energy Corporation has a 1 year low of $39.41 and a 1 year high of $47.33.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. OGE Energy had a net margin of 15.28% and a return on equity of 10.77%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 earnings per share. Research analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Monday, January 5th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, January 5th. OGE Energy’s payout ratio is currently 68.27%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on OGE shares. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Barclays lifted their price objective on OGE Energy from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. UBS Group dropped their target price on shares of OGE Energy from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday. Royal Bank Of Canada upgraded shares of OGE Energy to a “hold” rating in a report on Tuesday, October 28th. Finally, Mizuho increased their price objective on shares of OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.38.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.