OGE Energy upgraded to Overweight from Equal Weight at Barclays

Barclays analyst Nicholas Campanella upgraded OGE Energy (OGE) to Overweight from Equal Weight with a price target of $47, up from $45. The firm say positive data points have transpired for OGE since the Q1 report. This surrounds SB 998 legislation, which fundamentally changes OGE’s ability to accelerate its capex program, with less frequent rate filings and improved cash recovery for large gas investments in the back-half of the decade, the analyst tells investors in a research note. Barclays says its recent meeting with management reinforced its confidence on the shares. It sees an an attractive entry point at current share levels.