Portland General Electric Company (POR) reported quarterly earnings results on Friday, Apr-29-2016. The company said it had a profit of $0.68 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.61. The company posted revenue of $487.00 million in the period, compared to analysts expectations of $468.55 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.
Many Wall Street Analysts have commented on Portland General Electric Company. Portland General Electric Company was Downgraded by Wellington Shields to ” Hold” on Mar 4, 2016. Portland General Electric Company was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Feb 16, 2016. Company shares were Downgraded by Williams Capital Group on Feb 1, 2016 to ” Hold”, Firm has raised the Price Target to $ 41 from a previous price target of $27 .
Portland General Electric Company opened for trading at $38.34 and hit $39.005 on the upside on Wednesday, eventually ending the session at $38.81, with a gain of 1.54% or 0.59 points. The heightened volatility saw the trading volume jump to 4,15,036 shares. Company has a market cap of $3,446 M.
In a different news, on Nov 3, 2015, William O Nicholson (Sr. Vice President) sold 5,700 shares at $36.69 per share price. According to the SEC, on Sep 3, 2015, James F Lobdell (Sr. Vice President, CFO) sold 8,955 shares at $33.47 per share price. On Sep 3, 2015, William David Robertson (Vice President) sold 2,226 shares at $33.69 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).