OGE Energy Corporation $OGE Shares Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its OGE Energy stake by 13.7% in the fourth quarter, ending with 2.52 million shares valued at about $107.7 million.
• OGE Energy reported Q1 EPS of $0.24, matching analyst expectations, while revenue came in at $752.6 million, above estimates. Analysts currently have a consensus Hold rating with a $49.11 price target.
• The company declared a quarterly dividend of $0.425 per share, payable July 31, for an annualized yield of about 3.6%. Insider William H. Sultemeier also sold 7,345 shares in May.

Bank of New York Mellon Corp raised its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,523,364 shares of the utilities provider's stock after buying an additional 304,100 shares during the period. Bank of New York Mellon Corp owned approximately 1.25% of OGE Energy worth $107,748,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of OGE. Orion Porfolio Solutions LLC boosted its position in OGE Energy by 3.3% during the third quarter. Orion Porfolio Solutions LLC now owns 6,979 shares of the utilities provider's stock worth $323,000 after purchasing an additional 222 shares in the last quarter. Bfsg LLC increased its position in shares of OGE Energy by 2.3% in the fourth quarter. Bfsg LLC now owns 10,280 shares of the utilities provider's stock valued at $439,000 after buying an additional 232 shares in the last quarter. Blair William & Co. IL raised its stake in shares of OGE Energy by 0.9% during the 3rd quarter. Blair William & Co. IL now owns 27,454 shares of the utilities provider's stock worth $1,270,000 after buying an additional 234 shares during the last quarter. Savvy Advisors Inc. boosted its position in shares of OGE Energy by 1.4% in the 4th quarter. Savvy Advisors Inc. now owns 18,812 shares of the utilities provider's stock worth $803,000 after buying an additional 251 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of OGE Energy by 49.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider's stock worth $36,000 after buying an additional 255 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the company'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 transaction, the insider owned 74,497 shares of the company's stock, valued at $3,573,621.09. This represents a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.57% of the stock is currently owned by corporate insiders.

OGE Energy Stock Performance

NYSE:OGE opened at $47.80 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40. The firm has a market cap of $9.86 billion, a PE ratio of 21.34, a P/E/G ratio of 3.54 and a beta of 0.53. The firm has a 50 day simple moving average of $47.82 and a 200-day simple moving average of $45.91. OGE Energy Corporation has a 1-year low of $41.69 and a 1-year high of $50.13.

OGE Energy (NYSE:OGE - Get Free Report) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.24. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The firm had revenue of $752.60 million for the quarter, compared to analyst estimates of $616.02 million. During the same quarter last year, the business earned $0.31 earnings per share. OGE Energy's revenue was up .7% compared to the same quarter last year. On average, equities analysts expect that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OGE. Wall Street Zen cut shares of OGE Energy from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Wells Fargo & Company increased their price target on shares of OGE Energy from $47.00 to $48.00 and gave the company an "equal weight" rating in a research report on Thursday, April 30th. Mizuho set a $49.00 price objective on shares of OGE Energy in a research note on Thursday, February 19th. Barclays lifted their price objective on OGE Energy from $49.00 to $51.00 and gave the stock an "overweight" rating in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. initiated coverage on OGE Energy in a report on Friday, March 20th. They set an "overweight" rating and a $52.00 target price on the stock. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $49.11.

About OGE Energy

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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