Goldman Sachs Downgrades Portland General Electric Company to Sell with Price Target $38.00

Brokerage firm Goldman Sachs Downgrades its rating on Portland General Electric Company(NYSE:POR). In a research note issued to the investors, the brokerage major Lowers the price-target to $38.00 per share. The shares have been rated Sell. Previously, the analysts had a Neutral rating on the shares. The rating by Goldman Sachs was issued on Jun 6, 2016.

Portland General Electric Company (POR) made into the market gainers list on Fridays trading session with the shares advancing 0.26% or 0.11 points. Due to strong positive momentum, the stock ended at $42.67, which is also near the day’s high of $42.87. The stock began the session at $42.51 and the volume stood at 2,87,495 shares. The 52-week high of the shares is $42.87 and the 52 week low is $33.04. The company has a current market capitalization of $3,793 M and it has 8,89,00,756 shares in outstanding.

Portland General Electric Company has also declared a cash dividend of $0.3200 on Apr 27, 2016. The shares will quote ex-dividend on Jun 23, 2016 and the record date has been fixed on Jun 27, 2016. The dividend payable date has been fixed on Jul 15, 2016.

Portland General Electric Company(POR) last announced its earnings results on Apr 29, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $487.00M. Analysts had an estimated revenue of $520.83M. Earnings per share were $0.68. Analysts had estimated an EPS of $0.66.

Several Insider Transactions has been reported to the SEC. On May 10, 2016, Maria M Pope (Sr. Vice President) sold 13,500 shares at $41.60 per share price.Also, On Nov 3, 2015, William O Nicholson (Sr. Vice President) sold 5,700 shares at $36.69 per share price.On Sep 3, 2015, James F Lobdell (Sr. Vice President, CFO) sold 8,955 shares at $33.47 per share price, according to the Form-4 filing with the securities and exchange commission.

Portland General Electric Company (PGE) is a vertically integrated electric utility company engaged in the generation wholesale purchase transmission distribution and retail sale of electricity in the state of Oregon. The Company also sells electricity and natural gas in the wholesale market to utilities brokers and power marketers. The Company’s resources consist of six thermal plants which include natural gas- and coal-fired turbines two wind farms and seven hydroelectric plants. The Company has a resource capacity of approximately 1389 megawatts (MW) of natural gas 814 MW of coal 717 MW of wind and 494 MW of hydro. The Company has contractual rights for transmission lines that deliver electricity from its generation facilities to its distribution system in its service territory and to the Western Interconnection. The Company has four natural gas-fired generating facilities: Port Westward Unit 1 Port Westward Unit 2 Beaver and Coyote Springs Unit 1 (Coyote Springs).

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