OGE's Net Rises

OGE Energy's (OGE Quote) third-quarter earnings rose 9.2%, as a drop in natural gas pipeline operating revenue was more than offset by natural gas pipeline cost of goods sold which boosted gross margins.

The company earned $121.4 million, or $1.31 a share, in the quarter, compared with $111.1 million, or $1.22 a share, a year ago. Income from continuing operations, was $1.32 a share.

Revenue fell 32% from a year ago to $1.13 billion, primarily due to lower revenues in Enogex's marketing business from significantly lower natural gas prices. ...