Bank of New York Mellon Corp Boosts Stake in OGE Energy Corporation $OGE

Bank of New York Mellon Corp grew its position in shares of OGE Energy Corporation (NYSE:OGE) by 13.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,523,364 shares of the utilities provider’s stock after acquiring an additional 304,100 shares during the quarter. Bank of New York Mellon Corp’s holdings in OGE Energy were worth $107,748,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of OGE. Vanguard Group Inc. grew its holdings in shares of OGE Energy by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 21,500,675 shares of the utilities provider’s stock worth $918,079,000 after purchasing an additional 304,080 shares during the period. Boston Partners grew its stake in OGE Energy by 0.5% during the third quarter. Boston Partners now owns 6,279,360 shares of the utilities provider’s stock worth $290,530,000 after buying an additional 31,138 shares during the period. Geode Capital Management LLC grew its stake in OGE Energy by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 3,825,542 shares of the utilities provider’s stock worth $163,397,000 after buying an additional 204,510 shares during the period. Norges Bank acquired a new stake in shares of OGE Energy in the fourth quarter worth $119,028,000. Finally, Dimensional Fund Advisors LP increased its position in shares of OGE Energy by 1.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,613,959 shares of the utilities provider’s stock worth $120,944,000 after acquiring an additional 35,162 shares in the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on OGE shares. Wall Street Zen lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. LADENBURG THALM/SH SH raised their price objective on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Barclays boosted their price objective on OGE Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Wells Fargo & Company upped their target price on OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, Mizuho set a $49.00 price objective on shares of OGE Energy in a research report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $49.11.

OGE Energy Stock Performance

NYSE:OGE opened at $47.80 on Monday. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 3.54 and a beta of 0.53. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.13. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.40 and a current ratio of 0.66. The business’s 50-day simple moving average is $47.82 and its 200 day simple moving average is $45.91.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The firm had revenue of $752.60 million during the quarter, compared to analyst estimates of $616.02 million. During the same quarter last year, the firm earned $0.31 EPS. OGE Energy’s quarterly revenue was up .7% on a year-over-year basis. As a group, sell-side analysts predict that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, July 6th. OGE Energy’s payout ratio is 75.89%.

Insider Activity

In related news, insider William H. Sultemeier sold 7,345 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the sale, the insider directly owned 74,497 shares of the company’s stock, valued at $3,573,621.09. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

OGE Energy 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.