The Manufacturers Life Insurance Company Decreases Stock Holdings in OGE Energy Corporation $OGE

Key Points

• The Manufacturers Life Insurance Company reduced its stake in OGE Energy by 1.2% to approximately $54.61 million during the first quarter, after selling 14,976 shares.
• Analysts' ratings for OGE Energy have varied, with Barclays upgrading the stock to an "overweight" rating and a price target increase to $47.00, while Wall Street Zen downgraded it to a "sell" rating.
• OGE Energy reported $0.53 earnings per share for the latest quarter, missing estimates by $0.05, but revenue grew by 11.9% year-over-year to $741.60 million.

The Manufacturers Life Insurance Company lessened its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,188,175 shares of the utilities provider's stock after selling 14,976 shares during the period. The Manufacturers Life Insurance Company owned about 0.59% of OGE Energy worth $54,609,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of OGE. T. Rowe Price Investment Management Inc. lifted its stake in OGE Energy by 5.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,538,826 shares of the utilities provider's stock valued at $300,525,000 after purchasing an additional 364,268 shares during the last quarter. Boston Partners increased its holdings in shares of OGE Energy by 29.1% during the first quarter. Boston Partners now owns 5,401,857 shares of the utilities provider's stock worth $248,209,000 after purchasing an additional 1,219,062 shares during the period. Northern Trust Corp increased its holdings in shares of OGE Energy by 0.3% during the first quarter. Northern Trust Corp now owns 3,573,926 shares of the utilities provider's stock worth $164,258,000 after purchasing an additional 11,912 shares during the period. Dimensional Fund Advisors LP increased its stake in OGE Energy by 6.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,438,764 shares of the utilities provider's stock valued at $112,081,000 after acquiring an additional 137,857 shares during the last quarter. Finally, Invesco Ltd. increased its stake in OGE Energy by 20.4% in the first quarter. Invesco Ltd. now owns 1,673,459 shares of the utilities provider's stock valued at $76,912,000 after acquiring an additional 283,281 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Price Performance

Shares of OGE Energy stock traded down $0.26 on Wednesday, hitting $44.28. 621,775 shares of the company traded hands, compared to its average volume of 1,139,250. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. OGE Energy Corporation has a 12-month low of $39.10 and a 12-month high of $46.91. The firm's 50-day simple moving average is $44.82 and its 200 day simple moving average is $44.62. The company has a market cap of $8.92 billion, a P/E ratio of 18.15, a P/E/G ratio of 3.10 and a beta of 0.60.

OGE Energy (NYSE:OGE - Get Free Report) last released its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The business had revenue of $741.60 million for the quarter, compared to the consensus estimate of $719.97 million. During the same period in the prior year, the business posted $0.51 EPS. OGE Energy's revenue for the quarter was up 11.9% on a year-over-year basis. Analysts expect that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

OGE has been the topic of a number of research reports. Barclays raised shares of OGE Energy from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a report on Friday, May 9th. Finally, Wall Street Zen lowered shares of OGE Energy from a "hold" rating to a "sell" rating in a report on Saturday. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $46.80.

OGE Energy 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.