OGE Energy Benefits More Than Expected From Tax Reform
We are reaffirming our no-moat rating and $34 per share fair value estimate after OGE Energy reported strong earnings for 2018 and initiated 2019 guidance. Earnings in 2018 were $2.12 per share versus $1.92 in 2017 after adjusting for the benefit of the 2017 Tax Cut and Jobs Act. The reported EPS were $0.04 above our estimate and $0.05 higher than consensus. Management initiated a 2019 EPS guidance range of $2.05-$2.20, placing our $2.11 estimate near the midpoint. ÂOklahoma Gas & Electric ...
OGE Energy is a holding company. Through its subsidiaries, the company is an energy and energy services provider providing physical delivery and related services for both electricity and natural gas primarily in the south central United States Co. conducts these activities through two business segments: electric utility, which generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas; and natural gas midstream operations, which consist of the company's investment in Enable Midstream Partners, LP, which is primarily engaged in the business of gathering, processing, transporting and storing natural gas.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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