Jefferies Adjusts Numbers on OGE Energy (OGE) After Ruling

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.

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