Jefferies Maintains a 'Hold' on OGE Energy (OGE); Adjusting Estimates on Rate Settlement
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Price: $47.50 +1.02%
Rating Summary:
8 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies maintains a 'Hold' on OGE Energy (NYSE: OGE) price target of $56.00 (from $57.00).
Analyst, Paul B. Fremont, said, "Oklahoma Gas and Electric entered into a rate settlement predicated on a $4 million rate increase and a 10.2% ROE versus an ALJ recommendation of $40 million and a 10.75% ROE. Included in the settlement was the creation of a transmission rider which should provide an incremental $7 million in annual revenue...We are lowering our 2012 EPS estimate by $0.15 to $3.50 primarily to the lower than expected rate increase."
FY13 EPS esitmate lowered from $3.75 to $3.65 and FY14 from $3.85 to $3.80.
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 $52.16 yesterday.
Analyst, Paul B. Fremont, said, "Oklahoma Gas and Electric entered into a rate settlement predicated on a $4 million rate increase and a 10.2% ROE versus an ALJ recommendation of $40 million and a 10.75% ROE. Included in the settlement was the creation of a transmission rider which should provide an incremental $7 million in annual revenue...We are lowering our 2012 EPS estimate by $0.15 to $3.50 primarily to the lower than expected rate increase."
FY13 EPS esitmate lowered from $3.75 to $3.65 and FY14 from $3.85 to $3.80.
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 $52.16 yesterday.
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