Bank of New York Mellon Corp Decreases Stock Position in OGE Energy Corporation $OGE

Bank of New York Mellon Corp cut its position in OGE Energy Corporation (NYSE:OGE) by 13.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,192,431 shares of the utilities provider’s stock after selling 330,933 shares during the period. Bank of New York Mellon Corp’s holdings in OGE Energy were worth $105,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in OGE. Oak Thistle LLC lifted its stake in shares of OGE Energy by 368.0% in the 4th quarter. Oak Thistle LLC now owns 54,337 shares of the utilities provider’s stock valued at $2,320,000 after purchasing an additional 42,726 shares during the period. Pictet Asset Management Holding SA grew its stake in OGE Energy by 915.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 328,260 shares of the utilities provider’s stock worth $14,017,000 after purchasing an additional 295,932 shares during the period. Geode Capital Management LLC grew its stake in OGE Energy by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 3,825,542 shares of the utilities provider’s stock worth $163,397,000 after purchasing an additional 204,510 shares during the period. Gaddis Premier Wealth Advisors LLC bought a new position in OGE Energy in the fourth quarter worth $1,430,000. Finally, Norges Bank bought a new position in OGE Energy in the fourth quarter worth $119,028,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wells Fargo & Company raised their price objective on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Wall Street Zen lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Barclays lifted their price target on shares of OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Morgan Stanley started coverage on shares of OGE Energy in a research note on Wednesday, June 24th. They set an “equal weight” rating and a $50.00 price objective on the stock. Finally, LADENBURG THALM/SH SH upped their price objective on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.30.

Insider Buying and Selling at OGE Energy

In related news, insider William H. Sultemeier sold 7,345 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 74,497 shares in the company, valued at $3,573,621.09. The trade was a 8.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by company insiders.

OGE Energy Stock Performance

Shares of OGE stock opened at $48.61 on Tuesday. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.26. The company’s 50-day moving average is $48.02 and its 200 day moving average is $46.94. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 3.60 and a beta of 0.53. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.40 and a current ratio of 0.66.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $752.60 million during the quarter, compared to analysts’ expectations of $616.02 million. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 earnings per share. Sell-side analysts expect that OGE Energy Corporation will post 2.43 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.5%. OGE Energy’s dividend payout ratio (DPR) is 75.89%.

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.