Trading Report: Today, Arizona State Retirement System sells partial stakes of OGE Energy Corp. (OGE)

Today, Arizona State Retirement System sells partial stakes of OGE Energy Corp. (OGE)

Arizona State Retirement System decreased its stake in OGE Energy Corp. (NYSE:OGE) by 5.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 93,395 shares of the company’s stock after selling 5,300 shares during the period. Arizona State Retirement System’s holdings in OGE Energy Corp. were worth $2,953,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Quantitative Investment Management LLC acquired a new position in shares of OGE Energy Corp. during the third quarter valued at $1,612,000. Mutual of America Capital Management LLC increased its stake in OGE Energy Corp. by 3.3% in the third quarter. Mutual of America Capital Management LLC now owns 152,903 shares of the company’s stock valued at $4,835,000 after buying an additional 4,895 shares during the last quarter. Nordea Investment Management AB increased its stake in OGE Energy Corp. by 0.8% in the third quarter. Nordea Investment Management AB now owns 3,344,711 shares of the company’s stock valued at $105,760,000 after buying an additional 27,051 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. increased its stake in OGE Energy Corp. by 25.9% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 403,709 shares of the company’s stock valued at $12,765,000 after buying an additional 82,992 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in OGE Energy Corp. by 8.2% in the third quarter. Advisors Asset Management Inc. now owns 66,098 shares of the company’s stock valued at $2,090,000 after buying an additional 5,033 shares during the last quarter. 65.02% of the stock is owned by institutional investors.

OGE Energy Corp. (NYSE:OGE) traded down 0.26% during midday trading on Thursday, hitting $31.20. The stock had a trading volume of 1,016,663 shares. The stock has a market cap of $6.23 billion, a P/E ratio of 20.13 and a beta of 0.63. OGE Energy Corp. has a 52 week low of $23.37 and a 52 week high of $33.10. The company has a 50-day moving average price of $30.60 and a 200-day moving average price of $31.16.

OGE Energy Corp. (NYSE:OGE) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The firm had revenue of $743.90 million for the quarter. OGE Energy Corp. had a net margin of 14.24% and a return on equity of 9.25%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.55 EPS. Equities analysts expect that OGE Energy Corp. will post $1.76 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Tuesday, October 11th were issued a dividend of $0.3025 per share. This is an increase from OGE Energy Corp.’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, October 6th. This represents a $1.21 annualized dividend and a dividend yield of 3.88%. OGE Energy Corp.’s payout ratio is currently 78.07%.

Several equities research analysts have recently commented on OGE shares. TheStreet raised OGE Energy Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, September 6th. Jefferies Group reissued a “hold” rating and issued a $31.50 price objective on shares of OGE Energy Corp. in a report on Friday, November 4th. Zacks Investment Research raised OGE Energy Corp. from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Friday, November 4th. Finally, Guggenheim started coverage on OGE Energy Corp. in a report on Thursday, November 3rd. They issued a “buy” rating and a $33.00 price objective for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $30.92.

In related news, insider H Scott Forbes sold 4,959 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $32.12, for a total transaction of $159,283.08. Following the completion of the sale, the insider now owns 22,241 shares in the company, valued at $714,380.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.75% of the company’s stock.

About OGE Energy Corp.

OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company operates through two business segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.

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