Jefferies Price Target Change on OGE Energy Corp. (OGE)

Jefferies analysts raised their price target on OGE Energy Corp. (NYSE: OGE) from $56 to $58, while maintaining their HOLD rating on the energy company. They also increase their 2012 EPS estimate by $0.05 to $3.55.

OGE Energy reported 1Q12 operating EPS of $0.38 compared to $0.25 last year and consensus of $0.33.

Jefferies analyst view OGE Energy Corp. as a fairly-valued multi-utility with commodity exposure through its Enogex midstream processing business. Future earnings will benefit from new processing capacity and increased rates in Oklahoma.

For an analyst ratings summary and ratings history on OGE Energy click here. For more ratings news on OGE Energy click here.

Shares of OGE Energy closed at $54.88 yesterday.

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