OGE Energy (OGE) Receives a Hold from Evercore ISI

By Carrie Williams

Evercore ISI analyst Greg Gordon maintained a Hold rating on OGE Energy (OGEResearch Report) on August 8 and set a price target of $39. The company’s shares closed on Friday at $42.87.

Gordon commented:

“We assume no equity dilution due to cash flow from ENBL. For FY ’19 we model the utility hitting the high end of $1.55-1.62 EPS guidance as July has seen strong weather plus we expect a $0.14 benefit from rate relief in the second half. This drives OGE’s overall EPS in FY ’19 to $2.13/share, more or less the mid-point of consolidated EPS guidance.”

According to TipRanks.com, Gordon is a 4-star analyst with an average return of 9.9% and a 74.4% success rate. Gordon covers the Utilities sector, focusing on stocks such as Clearway Energy Inc, Evergy Inc, and PPL Corp.

OGE Energy has an analyst consensus of Moderate Sell, with a price target consensus of $40.83.

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The company has a one-year high of $44.41 and a one-year low of $35.29. Currently, OGE Energy has an average volume of 1.14M.

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OGE Energy Corp. is a holding company, which engages in the provision of physical delivery and related services for both electricity and natural gas. It operates through the following segments: Electric Utility, Natural Gas Midstream Operations, and Other Operations.