Northwestern Mutual Wealth Management Co. Purchases Shares of 12,288 OGE Energy Corporation $OGE

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of OGE Energy Corporation (NYSE:OGE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,288 shares of the utilities provider’s stock, valued at approximately $598,000.

Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in OGE Energy during the second quarter valued at approximately $1,277,554,000. Norges Bank acquired a new position in OGE Energy in the fourth quarter worth approximately $119,028,000. Morgan Stanley grew its position in OGE Energy by 103.2% in the fourth quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider’s stock worth $197,625,000 after buying an additional 2,350,574 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of OGE Energy in the second quarter valued at $102,382,000. Finally, Energy Income Partners LLC bought a new position in shares of OGE Energy in the second quarter valued at $99,016,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Up 1.5%

Shares of NYSE:OGE opened at $46.61 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77. The company has a market cap of $9.63 billion, a PE ratio of 20.53, 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 firm has a 50 day simple moving average of $47.98 and a 200 day simple moving average of $47.75.

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 analysts’ consensus estimates of $0.55 by $0.01. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The firm had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. During the same quarter last year, the business posted $0.53 EPS. The company’s revenue was down 4.0% on a year-over-year basis. As a group, research analysts expect that OGE Energy Corporation will post 2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OGE. LADENBURG THALM/SH SH raised their price objective on OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Morgan Stanley decreased their price target on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Friday, August 21st. Finally, Wells Fargo & Company lifted their price target on 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 investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.