Portland General Electric Company (POR) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 2,535,762 to 2,092,429 shares, with 4 days to go before the expiry. The short open interest has decreased by -17.5%, amounting to a reduction of -443,333 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 2.4% of the float of the company. The average daily volume of the stock is 579,172 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Portland General Electric Company (NYSE:POR): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $42.62 and $42.18 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $42.75. The buying momentum continued till the end and the stock did not give up its gains. It closed at $42.71, notching a gain of 0.07% for the day. The total traded volume was 290,998 . The stock had closed at $42.68 on the previous day.
In a related news,The (Sr. Vice President) of Portland General Electric Co /Or/, Pope Maria M sold 13,500 shares at $41.6 on May 9, 2016. The Insider selling transaction had a total value worth of $561,600. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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 Companys 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 1,389 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).