Morningstar Rating

Stock Research and Analysis

by Andrew Bischof, CFA

Bulls Say

The improving regulatory environment bodes well for upcoming environmental regional haze expenditures.
The spin-off of OGE's midstream assets into an MLP allows management to focus on increasing returns at OG&E.
Enable's focus on fee-based revenue reduces commodity price risk in the firm's natural gas unit. Read more 

Bears Say

Low seasonal and geographic price differentials and reduced demand for ancillary services have hurt Enable Midstream Partners.
Inflation and higher interest rates could depress stock prices for utilities like OGE as investors look for more attractive returns elsewhere.
The U.S. Court of Appeals recently upheld the EPA's regional haze rule, requiring more than $1 billion in spending on environmental controls. Read more 


We assign a Standard stewardship rating. Management has tried to navigate a difficult regulatory environment by ratcheting back generation capital expenditure and focusing on transmission investments with lower regulatory risk and higher returns. We   Read more 


OGE Energy is a holding company for the regulated OG&E utility offering electricity generation, transmission, and distribution to 786,000 customers in Oklahoma and western   Read more 

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