Portland General Electric (NYSE: POR) is engaged in the generation, purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The company's generating portfolio consists of thermal, hydro and wind resources. It serves approximately 813,000 residential, commercial and industrial customers. The firm also sells electricity and natural gas in the wholesale market to western U.S. utilities and energy marketers.

The company pleased investors earlier in the month, when it reported Q2 EPS of 63 cents and revenues of $425 million. Analysts had been looking for 58 cents and $419 million. Management also guided FY08 EPS to $1.85-$1.95, versus Street consensus of $1.80. In discussing significant capital projects, the CEO noted that the firm is moving forward with the next phase of a wind farm and with the implementation of a new smart-metering technology.

Continue reading Portland General Electric (POR): Shares cycle in bullish 'pennant' formation

Portland General Electric (POR): Shares cycle in bullish 'pennant' formation originally appeared on BloggingStocks on Thu, 21 Aug 2008 11:50:00 EST. Please see our terms for use of feeds.