Portland General Electric (POR) to Release Earnings on Friday

Portland General Electric (NYSE:POR) is scheduled to be posting its earnings results 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.Parties interested in participating in the company’s conference call can do so using this link.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 16th. The utilities provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.20). The business had revenue of $725.00 million for the quarter, compared to analysts’ expectations of $740.21 million. Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 earnings per share. 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 Stock Performance

NYSE:POR opened at $43.54 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.26. The company has a market cap of $4.40 billion, a P/E ratio of 18.69 and a beta of 0.57. The firm’s 50 day moving average is $41.21 and its two-hundred day moving average is $41.47. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $51.58.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Monday, June 24th. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s payout ratio is 81.55%.

Analysts Set New Price Targets

POR has been the topic of several research analyst reports. Mizuho reaffirmed a “neutral” rating and issued a $42.00 price objective (down from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. 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 note on Monday, February 5th. Barclays cut their target price on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and reduced their target price for the company from $47.00 to $45.00 in a report on Monday, January 29th. Finally, StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.13.

Insiders Place Their Bets

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

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.