The Manufacturers Life Insurance Company Sells 118,647 Shares of OGE Energy Corp. (NYSE:OGE)

The Manufacturers Life Insurance Company decreased its stake in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,203,151 shares of the utilities provider's stock after selling 118,647 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.60% of OGE Energy worth $49,630,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in OGE. Merit Financial Group LLC increased its holdings in OGE Energy by 14.2% during 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 in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of OGE Energy by 83.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 95,691 shares of the utilities provider's stock worth $3,947,000 after buying an additional 43,529 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in OGE Energy in the 4th quarter valued at approximately $252,000. Jones Financial Companies Lllp lifted its stake in OGE Energy by 38.2% in the 4th quarter. Jones Financial Companies Lllp now owns 24,085 shares of the utilities provider's stock valued at $993,000 after acquiring an additional 6,657 shares in the last quarter. Finally, Inspire Trust Co. N.A. grew its stake in shares of OGE Energy by 18.8% during the 3rd quarter. Inspire Trust Co. N.A. now owns 107,570 shares of the utilities provider's stock worth $4,413,000 after acquiring an additional 17,000 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OGE. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a research report on Tuesday, April 22nd. Evercore ISI raised OGE Energy from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Argus raised shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a research report on Friday, April 11th. Finally, Barclays raised their target price on shares of OGE Energy from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.25.

OGE Energy Stock Performance

NYSE OGE opened at $45.43 on Thursday. The stock has a market cap of $9.15 billion, a PE ratio of 20.65, a P/E/G ratio of 3.30 and a beta of 0.57. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. The firm has a 50-day moving average of $44.76 and a 200-day moving average of $43.00. OGE Energy Corp. has a 52-week low of $34.18 and a 52-week high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.22 by $0.09. The company had revenue of $747.70 million for the quarter, compared to the consensus estimate of $695.59 million. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The firm's revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, sell-side analysts anticipate that OGE Energy Corp. will post 2.27 EPS for the current year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 7th were paid a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Monday, April 7th. OGE Energy's dividend payout ratio (DPR) is 76.36%.

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.

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