OGE Energy: Improving Regulatory Outcomes, Core Demand Growth Outlook Support Narrow Moat
We are upgrading OGE Energy's Morningstar Moat Rating to Narrow from None to reflect what we consider a more constructive regulatory outlook and attractive long-term electricity demand growth that should boost shareholder returns. OGE's exit from the midstream oil and gas business, which we considered to have no economic moat, also supported our upgrade.