Portland General Electric Company (POR) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Nov 22, 2016.
On the company’s financial health, Portland General Electric Company reported $0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Oct 28, 2016. Analyst had a consensus of $0.41. The company had revenue of $484.00 million for the quarter, compared to analysts expectations of $473.00 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.
Portland General Electric Company opened for trading at $41.54 and hit $41.89 on the upside on Monday, eventually ending the session at $41.74, with a gain of 0.41% or 0.17 points. The heightened volatility saw the trading volume jump to 4,47,903 shares. Company has a market cap of $3,712 M.
Investors should note that on Oct 26, 2016, Portland General Electric Company announced a cash dividend of $0.3200. The company’s management has announced Dec 22, 2016 as the ex-dividend date and fixed the record date on Dec 27, 2016. The payable date has been fixed on Jan 17, 2017.
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).