The Manufacturers Life Insurance Company Has $54.22 Million Holdings in OGE Energy Corp. (NYSE:OGE)

The Manufacturers Life Insurance Company lessened its stake in OGE Energy Corp. (NYSE:OGE) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,321,798 shares of the utilities provider’s stock after selling 6,720 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in OGE Energy were worth $54,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. ClearBridge Investments Ltd raised its stake in OGE Energy by 2.7% in the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock valued at $208,103,000 after purchasing an additional 150,797 shares in the last quarter. Boston Partners raised its stake in OGE Energy by 3.8% in the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after purchasing an additional 139,872 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in OGE Energy by 31.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after purchasing an additional 531,730 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in OGE Energy by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,339,833 shares of the utilities provider’s stock valued at $54,960,000 after purchasing an additional 4,761 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in OGE Energy by 3,834.0% during the third quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock worth $30,708,000 after acquiring an additional 729,579 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Insider Transactions at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares in the company, valued at $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on OGE shares. Evercore ISI boosted their target price on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Barclays boosted their target price on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group started coverage on OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and a consensus price target of $40.50.

OGE Energy Stock Performance

NYSE:OGE opened at $44.08 on Friday. The stock has a market cap of $8.86 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The stock’s 50-day moving average is $41.36 and its 200-day moving average is $38.84. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.41.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 earnings per share. Equities research analysts anticipate that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were issued a dividend of $0.4213 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Monday, October 7th. OGE Energy’s payout ratio is 87.05%.

About OGE Energy

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.