OGE Reaffirms Higher 2005 Profit Outlook

Thursday, May 19th 2005, 11:25 am

By: News On 6

OKLAHOMA CITY (AP) _ OGE Energy Corp., the owner of Oklahoma Gas & Electric, backed its year-end guidance on Thursday and told shareholders that strong growth at its natural gas pipeline helped offset diminished earnings in the company's electric utility operations.

Steven E. Moore, OGE's chairman, president and chief executive, said the company's Enogex natural gas pipeline drove the company's 9 percent earnings growth in 2004.

He added that the company continues to expect 2005 profit of $1.65 to $1.75 per share, the raised forecast it issed earlier this month. Analysts surveyed by Thomson Financial expect profit of $1.71 per share, on average.