Bank of New York Mellon Corp Sells 57,563 Shares of OGE Energy Corp. (NYSE:OGE)

Bank of New York Mellon Corp lowered its holdings in OGE Energy Corp. (NYSE:OGE) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,437,217 shares of the utilities provider’s stock after selling 57,563 shares during the period. Bank of New York Mellon Corp owned approximately 1.21% of OGE Energy worth $100,535,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. FMR LLC grew its stake in OGE Energy by 16.3% in the 3rd quarter. FMR LLC now owns 558,967 shares of the utilities provider’s stock valued at $22,929,000 after buying an additional 78,164 shares in the last quarter. PEAK6 Investments LLC purchased a new position in shares of OGE Energy in the third quarter valued at $783,000. Navellier & Associates Inc. bought a new stake in shares of OGE Energy during the 3rd quarter valued at $785,000. BNP Paribas Financial Markets lifted its holdings in OGE Energy by 316.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,752 shares of the utilities provider’s stock worth $1,426,000 after purchasing an additional 26,411 shares in the last quarter. Finally, Merit Financial Group LLC boosted its stake in OGE Energy by 14.2% in the 4th quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider’s stock worth $268,000 after purchasing an additional 810 shares during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Price Performance

Shares of NYSE OGE opened at $46.26 on Friday. The stock’s 50-day simple moving average is $42.54 and its two-hundred day simple moving average is $41.57. OGE Energy Corp. has a twelve month low of $32.37 and a twelve month high of $46.28. The firm has a market capitalization of $9.30 billion, a P/E ratio of 21.03, a P/E/G ratio of 3.30 and a beta of 0.78. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08.

OGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio is currently 76.36%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and upped their price target for the company from $40.00 to $47.00 in a research report on Tuesday, January 21st. Barclays boosted their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and a consensus target price of $45.67.

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.