Jefferies Adjusts Numbers on OGE Energy (OGE) After Ruling
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Price: $45.62 -2.38%
Rating Summary:
8 Buy, 15 Hold, 0 Sell
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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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Jefferies raised estimates but trimmed their price target on OGE Energy (NYSE: OGE) from $58.00 to $57.00 after interim rate increase offset falling NGL prices.
The firm comments, "An Administrative Law Judge at the Oklahoma Corporate Commission issued her recommendation in the OG&E Electric Rate Case. Although investors may view that as a positive we remain cautious as NGL prices and MLP multiples have declined over the past several months which impacts the company's unregulated midstream business."
FY12 EPS goes from $3.55 to $3.65 and FY13 goes from $3.70 to $3.75.
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 $53.20 yesterday.
The firm comments, "An Administrative Law Judge at the Oklahoma Corporate Commission issued her recommendation in the OG&E Electric Rate Case. Although investors may view that as a positive we remain cautious as NGL prices and MLP multiples have declined over the past several months which impacts the company's unregulated midstream business."
FY12 EPS goes from $3.55 to $3.65 and FY13 goes from $3.70 to $3.75.
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 $53.20 yesterday.
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