Bank of New York Mellon Corp purchased a new position in OGE Energy Corporation (NYSE:OGE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,104,027 shares of the utilities provider's stock, valued at approximately $102,382,000. Bank of New York Mellon Corp owned approximately 1.02% of OGE Energy as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of OGE. Root Financial Partners LLC boosted its stake in shares of OGE Energy by 111.3% during the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider's stock valued at $29,000 after buying an additional 315 shares during the last quarter. State of Wyoming bought a new stake in shares of OGE Energy in the second quarter worth $34,000. Capital Advisors Ltd. LLC increased its stake in shares of OGE Energy by 14,780.0% in the first 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 last quarter. Caitong International Asset Management Co. Ltd raised 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 valued at $36,000 after acquiring an additional 255 shares in the last quarter. Finally, Clearstead Trust LLC acquired a new stake in OGE Energy in the second quarter valued at $37,000. Hedge funds and other institutional investors own 71.84% of the company's stock.
OGE Energy Stock Up 0.8%
OGE stock opened at $45.99 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47. OGE Energy Corporation has a 1-year low of $41.69 and a 1-year high of $50.59. The firm has a fifty day moving average price of $48.04 and a two-hundred day moving average price of $47.71. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 3.38 and a beta of 0.53.
OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. During the same period in the previous year, the business posted $0.53 EPS. The company's quarterly revenue was down 4.0% on a year-over-year basis. Research analysts predict that OGE Energy Corporation will post 2.42 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Morgan Stanley reduced their price objective on shares of OGE Energy from $51.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Friday. LADENBURG THALM/SH SH upped their target price on shares of OGE Energy from $42.50 to $47.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Wall Street Zen raised shares of OGE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. BMO Capital Markets reduced their price target on shares of OGE Energy from $50.00 to $49.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of OGE Energy in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $49.60.
Read Our Latest Stock Report on OGE Energy
About OGE Energy
(
Free Report)
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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