Bank of New York Mellon Corp trimmed its holdings in shares of OGE Energy Corp. (NYSE:OGE – Get Rating) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,996,124 shares of the utilities provider’s stock after selling 48,945 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.50% of OGE Energy worth $109,239,000 as of its most recent SEC filing.
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Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of OGE Energy by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 20,674,150 shares of the utilities provider’s stock worth $753,780,000 after buying an additional 294,759 shares during the period. State Street Corp raised its stake in OGE Energy by 1.5% in the 3rd quarter. State Street Corp now owns 7,122,492 shares of the utilities provider’s stock valued at $259,686,000 after purchasing an additional 103,185 shares during the last quarter. FMR LLC raised its stake in OGE Energy by 2.6% in the 2nd quarter. FMR LLC now owns 6,955,827 shares of the utilities provider’s stock valued at $268,217,000 after purchasing an additional 173,657 shares during the last quarter. CI Investments Inc. raised its stake in OGE Energy by 22.2% in the 3rd quarter. CI Investments Inc. now owns 2,245,626 shares of the utilities provider’s stock valued at $81,876,000 after purchasing an additional 408,058 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in OGE Energy by 2,242.7% in the 2nd quarter. Macquarie Group Ltd. now owns 2,142,755 shares of the utilities provider’s stock valued at $82,924,000 after purchasing an additional 2,051,290 shares during the last quarter. 67.78% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at OGE Energy
In other OGE Energy news, Director David L. Hauser purchased 1,000 shares of the stock in a transaction dated Tuesday, March 14th. The stock was acquired at an average cost of $35.09 per share, for a total transaction of $35,090.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at approximately $105,270. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director David L. Hauser bought 1,000 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average cost of $35.09 per share, for a total transaction of $35,090.00. Following the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $105,270. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David E. Rainbolt bought 5,000 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were purchased at an average price of $36.65 per share, with a total value of $183,250.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at $549,750. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 6,100 shares of company stock worth $221,925. 12.90% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research firms recently commented on OGE. StockNews.com began coverage on OGE Energy in a research note on Thursday. They issued a “hold” rating for the company. Bank of America downgraded OGE Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $41.00 to $39.00 in a research note on Friday, February 24th. UBS Group downgraded OGE Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $41.00 to $39.00 in a research note on Tuesday, February 28th. Guggenheim downgraded OGE Energy from a “buy” rating to a “neutral” rating and raised their target price for the stock from $39.00 to $40.00 in a research note on Monday, January 23rd. Finally, Wells Fargo & Company raised their target price on OGE Energy to $42.00 in a research note on Wednesday, December 14th. Eight research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.71.
OGE Energy Stock Down 1.2 %
Shares of OGE opened at $35.68 on Monday. The company has a market capitalization of $7.14 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.74 and a beta of 0.71. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 0.80. OGE Energy Corp. has a 52-week low of $33.28 and a 52-week high of $42.91. The stock has a fifty day simple moving average of $37.83 and a two-hundred day simple moving average of $38.34.
OGE Energy (NYSE:OGE – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The utilities provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.30. The business had revenue of $711.90 million during the quarter, compared to analysts’ expectations of $1.06 billion. OGE Energy had a return on equity of 15.33% and a net margin of 19.72%. The company’s revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 EPS. As a group, equities analysts forecast that OGE Energy Corp. will post 2.03 EPS for the current year.
OGE Energy Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Monday, April 10th will be issued a dividend of $0.4141 per share. The ex-dividend date is Thursday, April 6th. This is a boost from OGE Energy’s previous quarterly dividend of $0.41. This represents a $1.66 dividend on an annualized basis and a dividend yield of 4.64%. OGE Energy’s dividend payout ratio is currently 49.85%.
About OGE Energy
OGE Energy Corp. is a holding company with investments in energy and energy service providers, offering physical delivery and related services for electricity in Oklahoma and western Arkansas and natural gas, crude oil and NGLs across the U.S. OGE Energy conducts these activities through two business segments: Electric Utility and Natural Gas Midstream Operations.
Further Reading
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