OGE Energy Corp., the parent company of Oklahoma Gas and Electric Company and Enogex Inc., today reported earnings of $1.31 per diluted share for the three months ended Sept. 30, 2006, compared with earnings of $1.22 per share for the third quarter of 2005.
Higher earnings in the 2006 quarter were primarily due to increased gross margins at OG&E and Enogex, largely a result of higher electric rates and customer growth for OG&E, and improved margins in the marketing business for Enogex.
OG&E, a regulated electric utility, posted earnings of $1.16 per share in the third quarter, compared with $1.09 per share last year. Enogex, a natural gas pipeline business, recorded earnings of $0.13 per share ($0.14 per share from continuing operations), compared with $0.17 per share ($0.12 per share from continuing operations) in the year-ago quarter. The holding company posted earnings of $0.02 per share, compared to a loss of $0.04 per share a year ago.