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Market Update (NYSE:GE): Competitive Power Ventures and GE Energy Financial Services Close Financing on 785MW CPV Towantic Energy Center in Oxford, Connecticut

[PR Newswire] – BRAINTREE, Mass., March 11, 2016 /PRNewswire/ — Competitive Power Ventures (“CPV”) and GE unit (GE) GE Energy Financial Services announced today they have closed financing on the 785 megawatt (“MW”) CPV Towantic Energy Center (“CPV Towantic”) in the Western Connecticut town of Oxford. This is CPV’s second successful project financing since being acquired by Global Infrastructure Partners in May 2015. The approximate $753 million debt financing, led by MUFG Union Bank, N.A., Credit Agricole Corporate and Investment Bank, and CIT Bank, N.A., was arranged with a total of sixteen lenders participating in the financing. The consortium of lenders is comprised of long-standing CPV relationship-based lenders as well as a few lenders for whom CPV Towantic represents their first investment in the U.S. power generation markets. Read more on this. General Electric Company (GE) , valued at $288.42B, started the session at $30.16. Shares have traded today between $30.16 and $30.58 per share with its 52-week range being $19.37 to $31.49. General Electric (GE) shares are currently priced at 19.90x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.72x earnings multiple for the same period. The company pays shareholders $0.92 per share in dividend income per year, for a current yield of 3.06%. Consensus earnings for the current quarter by the 13 sell-side analysts covering the stock is an estimate of $0.19 per share, which would be $0.01 worse than the year-ago quarter and a $0.08 sequential decrease. Investors should also note that the full-year EPS estimate of $1.51 is a $0.20 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $28.10 Billion. If realized, that would be a 4.29% decrease over the year-ago quarter. More recently, UBS Initiated GE at Buy (Jan 22, 2015). Previously, RBC Capital Mkts Initiated GE at to Outperform. Given all the information above, we should disclose to readers that the average price target is $32.54, which is 7.89% above than it opened this morning. See more in (NYSE:GE) Similar Articles: Stock Update: General Electric Company (NYSE:GE) – Phu My Power Plant Upgrade in Vietnam Marks GE’s First Services Order to be Announced after Acquiring Alstom’s Power & Grid Businesses Stock Update (NYSE:GE): GE to get up to $12 bln in export financing from Britain Stock Update (NYSE:GE): With no U.S. export financing, GE says it will build engines in Europe
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