1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
We are reaffirming our $36 fair value estimate for OGE Energy after the company reported first-quarter earnings per share of $0.19 at its regulated distribution utility, OG&E, up from $0.16 during the first quarter of 2021, adjusting for the losses incurred during 2021's winter storm Uri. Results are on track to meet our full-year and long-term outlooks. We are reaffirming our no-moat and stable moat trend ratings.
OGE Energy is a holding company for Oklahoma Gas & Electric, a regulated utility offering electricity generation, transmission, and distribution to more than 800,000 customers in Oklahoma and western Arkansas. In December 2021, OGE closed a merger between Enable Midstream Partners and Energy Transfer. This resulted in OGE acquiring 95.4 million limited partner units of Energy Transfer in return for its 25.5% limited partner interest in Enable, a midstream services company it created in 2013.
