Portland General Electric Company (POR) is Downgraded by BofA/Merrill to Neutral

Portland General Electric Company (POR) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Aug 2, 2016.

Many Wall Street Analysts have commented on Portland General Electric Company. Portland General Electric Company was Downgraded by Goldman to ” Sell” on Jun 6, 2016.

On the company’s financial health, Portland General Electric Company reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.61. The company had revenue of $487.00 million for the quarter, 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.

Portland General Electric Company closed down -0.02 points or -0.05% at $43.67 with 8,47,072 shares getting traded on Friday. Post opening the session at $43.7, the shares hit an intraday low of $43.6 and an intraday high of $44.01 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 10, 2016, Maria M Pope (Sr. Vice President) sold 13,500 shares at $41.60 per share price. According to the SEC, 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).

Portland General Electric Company

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