Portland General Electric Company(NYSE:POR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 3, 2016. Company reported revenue of $428.00M. Analysts estimated a revenue of $450.33M. Earnings per share were $0.42. Analysts had estimated an EPS of $0.43.
In a different note, On Aug 2, 2016, Bank of America said it Downgrades its rating on Portland General Electric Company. The shares have been rated ‘Neutral’ by the firm. On Jun 6, 2016, Goldman Sachs said it Downgrades its rating on Portland General Electric Company. In the research note, the firm Lowers the price-target to $39.00 per share. The shares have been rated ‘Sell’ by the firm.
Portland General Electric Company (POR) made into the market gainers list on Fridays trading session with the shares advancing 0.07% or 0.03 points. Due to strong positive momentum, the stock ended at $43.15, which is also near the day’s high of $43.48. The stock began the session at $43.36 and the volume stood at 2,53,960 shares. The 52-week high of the shares is $45.21 and the 52 week low is $33.33. The company has a current market capitalization of $3,837 M and it has 8,89,21,050 shares in outstanding.
Portland General Electric Company has also declared a cash dividend of $0.3200 on Jul 27, 2016. The shares will quote ex-dividend on Sep 22, 2016 and the record date has been fixed on Sep 26, 2016. The dividend payable date has been fixed on Oct 17, 2016.
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).