The Manufacturers Life Insurance Company Invests $56.30 Million in OGE Energy Corporation $OGE

The Manufacturers Life Insurance Company purchased a new stake in shares of OGE Energy Corporation (NYSE:OGE) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,157,004 shares of the utilities provider’s stock, valued at approximately $56,300,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of OGE Energy during the 2nd quarter worth approximately $1,277,554,000. Vanguard Group Inc. lifted its stake in OGE Energy by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 21,500,675 shares of the utilities provider’s stock worth $918,079,000 after purchasing an additional 304,080 shares in the last quarter. State Street Corp boosted its position in shares of OGE Energy by 1.8% during the fourth quarter. State Street Corp now owns 6,713,937 shares of the utilities provider’s stock worth $286,685,000 after buying an additional 117,977 shares during the period. Boston Partners grew its holdings in shares of OGE Energy by 0.5% in the third quarter. Boston Partners now owns 6,279,360 shares of the utilities provider’s stock valued at $290,530,000 after purchasing an additional 31,138 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of OGE Energy by 8.3% in the fourth quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider’s stock worth $266,473,000 after acquiring an additional 479,278 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE opened at $45.96 on Wednesday. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 3.40 and a beta of 0.53. OGE Energy Corporation has a 52-week low of $41.69 and a 52-week high of $50.59. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12. The stock has a 50 day moving average price of $48.00 and a 200 day moving average price of $47.73.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business had revenue of $711.90 million during the quarter, compared to the consensus estimate of $782.73 million. During the same quarter in the previous year, the firm earned $0.53 EPS. The company’s revenue was down 4.0% compared to the same quarter last year. Research analysts predict that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OGE. BMO Capital Markets reduced their price target on OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. LADENBURG THALM/SH SH raised their target price on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company lifted their price target on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $49.60.

OGE Energy Profile

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.