Barclays Reiterates an 'Overweight' on OGE Energy (OGE); More Good Things to Come
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Price: $45.62 -2.38%
Rating Summary:
8 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays reiterates an 'Overweight' on OGE Energy (NYSE: OGE), PT increased from $52 to $56.
Barclays analyst says, "Our recent field trip to OGE headquarters, an Enogex Processing facility, and meetings at the Oklahoma Commission affirmed our positive bias toward the company's operating performance and earnings potential. We see continued opportunities for margin improvement at Enogex, based on established volumetric growth and favorable gas/liquids pricing spreads. At OG&E, we remain confident around rate base growth opportunities - primarily in the form of transmission - and we view the Commission as balanced and constructive on key issues, including the potential need for environmental retrofits, and progressive in their approach to utility regulation as it relates to energy efficiency."
"We are revising our '11/'12 earnings forecast from $3.14/3.57 to $3.19/$3.66."
For more ratings news on OGE Energy click here and for the rating history of OGE Energy click here.
Shares of OGE Energy closed at $51.11 yesterday.
Barclays analyst says, "Our recent field trip to OGE headquarters, an Enogex Processing facility, and meetings at the Oklahoma Commission affirmed our positive bias toward the company's operating performance and earnings potential. We see continued opportunities for margin improvement at Enogex, based on established volumetric growth and favorable gas/liquids pricing spreads. At OG&E, we remain confident around rate base growth opportunities - primarily in the form of transmission - and we view the Commission as balanced and constructive on key issues, including the potential need for environmental retrofits, and progressive in their approach to utility regulation as it relates to energy efficiency."
"We are revising our '11/'12 earnings forecast from $3.14/3.57 to $3.19/$3.66."
For more ratings news on OGE Energy click here and for the rating history of OGE Energy click here.
Shares of OGE Energy closed at $51.11 yesterday.
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