UPDATE: Jefferies Raises PT on OGE Energy Following 1Q13 EPS

In a report published Friday, Jefferies analyst Paul B. Fremont reiterated a Hold rating on OGE Energy Corp. OGE, and raised the price target from $72.00 to $74.00. In the report, Fremont noted, “OGE reported 1Q13 EPS which was light of Consensus but investor focus is on the earnings power of the MLP. DOJ/FTC approval was issued earlier this week and both companies are working on selecting a management team. On the 2Q13 call OGE hopes to provide revised 2013 guidance related to the transaction. On the utility front management opened the door for more transmission projects and a possible Transco creation.” OGE Energy Corp. closed on Thursday at $71.00.