Northwestern Mutual Wealth Management Co. Takes Position in OGE Energy Corporation $OGE

Northwestern Mutual Wealth Management Co. purchased a new position 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 & Exchange Commission. The institutional investor purchased 12,288 shares of the utilities provider’s stock, valued at approximately $598,000.

Other large investors have also modified their holdings of the company. Root Financial Partners LLC grew its position in OGE Energy by 111.3% in the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 315 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of OGE Energy by 14,780.0% during the first quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock valued at $36,000 after buying an additional 739 shares during the last quarter. Clearstead Trust LLC acquired a new position in shares of OGE Energy during the second quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd boosted its position in shares of OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after buying an additional 255 shares during the period. Finally, State of Wyoming bought a new position in OGE Energy in the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Price Performance

NYSE OGE opened at $46.61 on Thursday. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.59. The firm has a market capitalization of $9.63 billion, a PE ratio of 20.53, a P/E/G ratio of 3.40 and a beta of 0.53. The company’s 50 day simple moving average is $47.98 and its 200 day simple moving average is $47.75. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $711.90 million during the quarter, compared to the consensus estimate of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. As a group, equities research analysts forecast that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

OGE has been the topic of several analyst reports. LADENBURG THALM/SH SH raised their target price on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Wells Fargo & Company increased 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. Morgan Stanley lowered their price target on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating on the stock in a report on Friday, August 21st. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Barclays upped their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average 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.