Portland General Electric (POR) to Release Earnings on Friday

Portland General Electric (NYSE:POR) is scheduled to be releasing its earnings data before the market opens on Friday, April 26th. Analysts expect Portland General Electric to post earnings of $0.97 per share for the quarter. Portland General Electric has set its FY24 guidance at $2.98-3.18 EPS and its FY 2024 guidance at 2.980-3.180 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, February 16th. The utilities provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.20). The firm had revenue of $725.00 million during the quarter, compared to analyst estimates of $740.21 million. Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. 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 Trading Up 1.9 %

Shares of Portland General Electric stock opened at $41.74 on Friday. The firm has a 50-day simple moving average of $40.99 and a two-hundred day simple moving average of $41.37. The company has a market cap of $4.22 billion, a P/E ratio of 17.71 and a beta of 0.57. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $51.58. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.84.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were given a $0.475 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.55%. Portland General Electric’s dividend payout ratio (DPR) is currently 81.55%.

Insider Activity at Portland General Electric

In related news, COO Benjamin Felton sold 3,500 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the sale, the chief operating officer now owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Institutional Trading of Portland General Electric

Several hedge funds have recently made changes to their positions in POR. American Century Companies Inc. grew its stake in shares of Portland General Electric by 17.4% in the 1st quarter. American Century Companies Inc. now owns 14,034 shares of the utilities provider’s stock valued at $774,000 after buying an additional 2,083 shares during the period. Citigroup Inc. grew its stake in shares of Portland General Electric by 58.9% in the 1st quarter. Citigroup Inc. now owns 46,899 shares of the utilities provider’s stock valued at $2,586,000 after buying an additional 17,386 shares during the period. Bank of Montreal Can purchased a new stake in shares of Portland General Electric in the 1st quarter valued at approximately $239,000. Acadian Asset Management LLC purchased a new stake in shares of Portland General Electric in the 1st quarter valued at approximately $460,000. Finally, MetLife Investment Management LLC grew its stake in shares of Portland General Electric by 55.0% in the 1st quarter. MetLife Investment Management LLC now owns 47,232 shares of the utilities provider’s stock valued at $2,605,000 after buying an additional 16,750 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on POR. Bank of America downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $55.00 to $43.00 in a research report on Monday, February 5th. StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Mizuho restated a “neutral” rating and set a $42.00 price target (down previously from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $47.00 to $45.00 in a research report on Monday, January 29th. Finally, Barclays reduced their price target on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and an average price target of $45.13.

Portland General Electric Company Profile

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.