Q4 2022 Earnings Estimate for Portland General Electric (NYSE:POR) Issued By KeyCorp

Posted by MarketBeat News on Aug 4th, 2022

Portland General Electric (NYSE:POR – Get Rating) – Analysts at KeyCorp decreased their Q4 2022 earnings per share (EPS) estimates for Portland General Electric in a research report issued on Tuesday, August 2nd. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $0.66 per share for the quarter, down from their previous estimate of $0.69. The consensus estimate for Portland General Electric’s current full-year earnings is $2.82 per share.

Portland General Electric (NYSE:POR – Get Rating) last posted its earnings results on Thursday, July 28th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.32. Portland General Electric had a return on equity of 8.87% and a net margin of 9.73%. The business had revenue of $591.00 million during the quarter, compared to analyst estimates of $531.67 million. During the same quarter last year, the firm earned $0.36 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year.

POR has been the topic of several other research reports. Credit Suisse Group initiated coverage on Portland General Electric in a report on Monday, April 25th. They issued an “underperform” rating and a $55.00 price target on the stock. Mizuho downgraded Portland General Electric from a “buy” rating to a “neutral” rating and cut their price target for the stock from $56.00 to $50.00 in a report on Tuesday, June 28th. The Goldman Sachs Group raised Portland General Electric from a “neutral” rating to a “buy” rating and lifted their target price for the company from $49.00 to $52.00 in a research note on Thursday, June 2nd. Bank of America downgraded Portland General Electric from a “buy” rating to a “neutral” rating and set a $52.00 target price on the stock. in a research note on Monday. Finally, Wells Fargo & Company lifted their target price on Portland General Electric from $53.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Portland General Electric currently has an average rating of “Hold” and an average target price of $52.67.

Portland General Electric Trading Up 2.2 %

NYSE:POR opened at $52.40 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.87 and a debt-to-equity ratio of 1.31. The business’s 50 day moving average is $48.94 and its two-hundred day moving average is $50.84. Portland General Electric has a 52 week low of $45.02 and a 52 week high of $57.03. The company has a market cap of $4.68 billion, a PE ratio of 19.55, a P/E/G ratio of 4.21 and a beta of 0.51.

Hedge Funds Weigh In On Portland General Electric

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Portland General Electric by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 9,727,335 shares of the utilities provider’s stock worth $536,463,000 after acquiring an additional 288,965 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Portland General Electric by 21.8% in the 1st quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider’s stock worth $334,647,000 after acquiring an additional 1,087,996 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Portland General Electric by 95.5% in the 4th quarter. JPMorgan Chase & Co. now owns 5,941,339 shares of the utilities provider’s stock worth $314,415,000 after acquiring an additional 2,902,218 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Portland General Electric by 0.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,457,203 shares of the utilities provider’s stock valued at $245,815,000 after buying an additional 21,930 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Portland General Electric by 16.1% during the first quarter. State Street Corp now owns 2,434,259 shares of the utilities provider’s stock valued at $135,271,000 after buying an additional 337,867 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Dawn L. Farrell purchased 4,000 shares of the stock in a transaction dated Thursday, May 26th. The shares were bought at an average cost of $48.52 per share, for a total transaction of $194,080.00. Following the transaction, the director now owns 9,223 shares in the company, valued at $447,499.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by insiders.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, September 26th will be given a dividend of $0.4525 per share. This represents a $1.81 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, September 23rd. Portland General Electric’s dividend payout ratio (DPR) is presently 67.54%.

About Portland General Electric

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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, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.