Bank of New York Mellon Corp Sells 31,059 Shares of OGE Energy Corporation (NYSE:OGE)

Bank of New York Mellon Corp decreased its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,406,158 shares of the utilities provider's stock after selling 31,059 shares during the period. Bank of New York Mellon Corp owned about 1.20% of OGE Energy worth $110,587,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC purchased a new position in OGE Energy in the fourth quarter valued at approximately $27,000. Alpine Bank Wealth Management purchased a new position in OGE Energy in the first quarter valued at approximately $31,000. Bessemer Group Inc. lifted its stake in OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 361 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in OGE Energy in the fourth quarter valued at approximately $45,000. Finally, NBT Bank N A NY lifted its stake in OGE Energy by 100.0% in the first quarter. NBT Bank N A NY now owns 1,200 shares of the utilities provider's stock valued at $55,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

OGE has been the topic of several research analyst reports. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research note on Friday, May 9th. Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $45.00 to $47.00 in a research note on Thursday, June 5th. Argus upgraded OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a research report on Friday, April 11th. Finally, Wells Fargo & Company increased their target price on OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $46.80.

Insider Buying and Selling at OGE Energy

In other news, insider William H. Sultemeier sold 6,650 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the transaction, the insider owned 72,548 shares of the company's stock, valued at approximately $3,303,835.92. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Donnie O. Jones sold 11,351 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total transaction of $500,125.06. Following the completion of the transaction, the vice president directly owned 43,932 shares in the company, valued at approximately $1,935,643.92. The trade was a 20.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company's stock.

OGE Energy Stock Performance

Shares of NYSE:OGE traded down $0.23 during trading on Friday, hitting $44.29. 730,017 shares of the company were exchanged, compared to its average volume of 1,114,492. The company has a market cap of $8.92 billion, a PE ratio of 18.30, a P/E/G ratio of 3.09 and a beta of 0.59. The stock has a 50 day moving average of $44.19 and a 200 day moving average of $43.86. OGE Energy Corporation has a 52-week low of $36.17 and a 52-week high of $46.91. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.73 and a quick ratio of 0.47.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. The firm had revenue of $747.70 million for the quarter, compared to analysts' expectations of $695.59 million. OGE Energy had a net margin of 15.48% and a return on equity of 10.58%. The business's quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. As a group, equities research analysts predict that OGE Energy Corporation will post 2.27 EPS for the current year.

OGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a $0.4213 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.80%. OGE Energy's payout ratio is currently 69.42%.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.