UPDATE: Jefferies Maintains Hold Rating, Lowers PT for OGE Energy

In a company note released earlier today, Jefferies & Company, Inc. maintained its Hold rating for OGE Energy Corp.

, but lowered its price target from $58 to $56. Jefferies went on to say in the report “We view OGE Energy Corp. as a fair-valued multi-utility with exposure to lower growth expectations at its Enogex midstream processing business. We are lowering our 1Q12 EPS estimate by $0.05 to $0.35 mainly due to weather. The company experienced a very mild winter in its service territory. We are maintaining our 2012-2014 EPS estimates of $3.50, $3.70 and $3.80, respectively.” OGE Energy Corp. closed yesterday at $52.35.