OGE Energy Retreats From New High on Q3 Beat, Down 2%

By MidnightTrader.com Staff,

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OGE Energy Corp. ( OGE ) is down 2.2% to $56.22, changing direction after clipping a new 52-week high of $60.21 on news the company reported Q3 EPS of $1.87, topping consensus estimate of $1.82 by $0.05.

Revenues for the quarter came in at $1.11 billion, compared to the consensus estimate of $1.21 billion.

OGE sees FY12 EPS at $3.40 to $3.60 per average diluted share and assumes normal weather for the remainder of the year. OGE's earnings are projected to be toward the upper end of the earnings range of $2.60 to $2.70 per average diluted share primarily due to warm summer weather.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: OGE

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