The Manufacturers Life Insurance Company Buys New Stake in OGE Energy Corporation $OGE

The Manufacturers Life Insurance Company purchased a new stake in OGE Energy Corporation (NYSE:OGE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,157,004 shares of the utilities provider’s stock, valued at approximately $56,300,000. The Manufacturers Life Insurance Company owned about 0.56% of OGE Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Root Financial Partners LLC raised 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 purchased a new stake in shares of OGE Energy in the second quarter worth about $34,000. Capital Advisors Ltd. LLC boosted 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 grew its holdings in OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 255 shares during the period. Finally, Clearstead Trust LLC acquired a new stake in OGE Energy during the second quarter worth about $37,000. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Down 0.0%

OGE opened at $45.96 on Wednesday. The company has a market cap of $9.49 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 3.40 and a beta of 0.53. OGE Energy Corporation has a twelve month low of $41.69 and a twelve month high of $50.59. The company has a 50-day moving average price of $48.00 and a 200 day moving average price of $47.73. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The company 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 earned $0.53 EPS. OGE Energy’s quarterly revenue was down 4.0% on a year-over-year basis. Sell-side analysts expect that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OGE. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. Barclays raised their price target on shares of OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. BMO Capital Markets decreased their price objective on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Morgan Stanley lowered their target price 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. Finally, Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, OGE Energy currently has a consensus rating of “Hold” and an average price target of $49.60.

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.