Portland General Electric (POR) Scheduled to Post Earnings on Friday

Portland General Electric (NYSE:POR) is scheduled to post its quarterly earnings results before the market opens on Friday, October 25th. Analysts expect Portland General Electric to post earnings of $0.58 per share for the quarter. Portland General Electric has set its FY 2024 guidance at 2.980-3.180 EPS and its FY24 guidance at $2.98-3.18 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The company had revenue of $758.00 million during the quarter, compared to the consensus estimate of $716.43 million. During the same period last year, the company earned $0.44 EPS. Portland General Electric’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, analysts expect Portland General Electric to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Portland General Electric Price Performance

NYSE POR opened at $49.00 on Thursday. Portland General Electric has a one year low of $39.13 and a one year high of $49.45. The stock has a 50-day moving average of $47.71 and a 200 day moving average of $45.35. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.36 and a beta of 0.59. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.08%. Portland General Electric’s payout ratio is 76.63%.

Insider Activity

In related news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on POR. Bank of America began coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. Barclays cut Portland General Electric from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $48.00 to $49.00 in a research report on Wednesday, September 18th. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Jefferies Financial Group initiated coverage on Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 target price on the stock. Finally, StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Portland General Electric presently has an average rating of “Hold” and an average target price of $48.25.

About Portland General Electric

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.