OGE Energy initiated with a Neutral at Ladenburg

Ladenburg analyst Paul Fremont initiated coverage of OGE Energy with a Neutral rating and $37 price target. The company is well positioned with a "rock solid" balance sheet to fund rate base growth, including possible generation additions associated with its integrated resource plan, the analyst tells investors in a research note. However, the firm believes OGE’s attributes have been priced in by the market.