Portland General Electric (POR) Set to Announce Quarterly Earnings on Friday

Portland General Electric (NYSE:POR) will be issuing its quarterly earnings data before the market opens on Friday, April 26th. Analysts expect the company to announce 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 registering for the company’s conference call can do so using this link.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, February 16th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.20). The company had revenue of $725.00 million during the quarter, compared to the consensus estimate 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 for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the business 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 0.3 %

Shares of NYSE POR opened at $43.69 on Thursday. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 18.75 and a beta of 0.57. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $51.58. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The stock’s 50 day simple moving average is $41.28 and its 200 day simple moving average is $41.49.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be issued a $0.50 dividend. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, June 21st. This represents a $2.00 annualized dividend and a dividend yield of 4.58%. Portland General Electric’s dividend payout ratio (DPR) is 81.55%.

Insider Buying and Selling

In related news, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the transaction, the chief operating officer now directly owns 31,950 shares in the company, valued at approximately $1,297,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on POR. Mizuho reaffirmed a “neutral” rating and set a $42.00 target price (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Bank of America downgraded Portland General Electric from a “buy” rating to a “neutral” rating and cut their target price for the company from $55.00 to $43.00 in a research note on Monday, February 5th. Barclays cut their target price on 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. Finally, UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $47.00 to $45.00 in a research note on Monday, January 29th. 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.com, the company has an average rating of “Hold” and a consensus target price of $45.13.

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.