Portland General Electric Company (POR) Releases Earnings Results, Misses Expectations By $-0.01 EPS

Portland General Electric Company (POR) reported quarterly earnings results on Wednesday, Aug-3-2016. The company reported $0.42 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.43. The company posted revenue of $428.00 million in the period, compared to analysts expectations of $439.08 million. The company’s revenue was down -4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on Portland General Electric Company. Portland General Electric Company was Downgraded by BofA/Merrill to ” Neutral” on Aug 2, 2016. Portland General Electric Company was Downgraded by Goldman to ” Sell” on Jun 6, 2016.

Portland General Electric Company closed down -0.53 points or -1.20% at $43.77 with 7,53,986 shares getting traded on Tusday. Post opening the session at $43.81, the shares hit an intraday low of $43.57 and an intraday high of $44.23 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

Investors should note that on Jul 27, 2016, Portland General Electric Company announced a cash dividend of $0.3200. The company’s management has announced Sep 22, 2016 as the ex-dividend date and fixed the record date on Sep 26, 2016. The payable date has been fixed on Oct 17, 2016.

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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