Argus upgrades OGE Energy to Buy on steady earnings growth, visible EPS stream

As previously reported, Argus upgraded OGE Energy (OGE) to Buy from Hold with a $47 price target The electric utility has earned this upgrade by showing steady EPS growth of about 6% with a similar forecast for the current year, and the firm is positive on the company’s visible forward earnings stream, strong cost controls, well-run generation facilities, and relatively high yield, the analyst tells investors in a research note. OGE also carries an attractive dividend with a yield of about 3.9%, and the dividend has shown steady growth over the past five years, the firm adds.