Bank of New York Mellon Corp Has $105.15 Million Stake in OGE Energy Corporation $OGE

Key Points

• Bank of New York Mellon cut its OGE Energy stake by 13.1% in the first quarter, but still held 2.19 million shares valued at about $105.1 million at quarter-end.
• OGE Energy reported Q1 earnings of $0.24 per share, matching estimates, while revenue came in at $752.6 million versus analyst expectations of $616.0 million. The company also maintained a steady dividend, declaring a quarterly payout of $0.425 per share for a 3.5% yield.
• Analysts are mixed on the stock: the consensus rating is Hold with an average price target of $49.30, while recent target changes included upgrades and downgrades from several firms.

Bank of New York Mellon Corp lowered its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 13.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,192,431 shares of the utilities provider's stock after selling 330,933 shares during the quarter. Bank of New York Mellon Corp owned 1.06% of OGE Energy worth $105,149,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC raised its holdings in shares of OGE Energy by 111.3% during the first quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 315 shares during the period. Quest 10 Wealth Builders Inc. increased its position in OGE Energy by 618.3% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider's stock valued at $33,000 after buying an additional 674 shares in the last quarter. State of Wyoming acquired a new position in OGE Energy during the 2nd quarter worth approximately $34,000. Capital Advisors Ltd. LLC raised its stake in OGE Energy by 14,780.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider's stock worth $36,000 after buying an additional 739 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in OGE Energy by 49.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider's stock worth $36,000 after acquiring an additional 255 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Stock Performance

Shares of OGE opened at $48.61 on Tuesday. The stock has a 50 day moving average of $48.02 and a 200 day moving average of $46.94. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 3.60 and a beta of 0.53. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.26. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $752.60 million for the quarter, compared to analysts' expectations of $616.02 million. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The business's revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. As a group, sell-side analysts forecast that OGE Energy Corporation will post 2.43 earnings per share for the current 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 given a dividend of $0.425 per share. The ex-dividend date is Monday, July 6th. This represents a $1.70 annualized dividend and a yield of 3.5%. OGE Energy's dividend payout ratio is presently 75.89%.

Insider Transactions at OGE Energy

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OGE shares. Wall Street Zen cut OGE Energy from a "hold" rating to a "sell" rating in a research note on Sunday, June 21st. Morgan Stanley began coverage on OGE Energy in a report on Wednesday, June 24th. They issued an "equal weight" rating and a $50.00 target price on the stock. LADENBURG THALM/SH SH lifted their price target on shares of 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 target on shares of OGE Energy from $51.00 to $52.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company upped their price objective on shares of OGE Energy from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $49.30.

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.

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