Portland General Electric (POR) to Release Quarterly Earnings on Friday

Portland General Electric (NYSE:POR) will be releasing its earnings data 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.Parties interested in participating in the company’s conference call can do so using this link.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $758.00 million during the quarter, compared to the consensus estimate of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. During the same period last year, the company earned $0.44 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. 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

Shares of POR stock opened at $48.55 on Wednesday. The stock has a market capitalization of $5.00 billion, a PE ratio of 16.68, a PEG ratio of 1.36 and a beta of 0.59. The business’s 50 day simple moving average is $47.65 and its 200 day simple moving average is $45.32. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. Portland General Electric has a one year low of $39.13 and a one year high of $49.45.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be given a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.12%. Portland General Electric’s dividend payout ratio (DPR) is currently 68.73%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on POR shares. Bank of America assumed coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price for the company. Barclays lowered Portland General Electric from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $48.00 to $49.00 in a research report on Wednesday, September 18th. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Finally, Evercore ISI started coverage on Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Portland General Electric presently has an average rating of “Hold” and a consensus target price of $47.29.

Insider Activity

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the transaction, the senior vice president now 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the sale, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 owns 14,263 shares in the company, valued at $688,902.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

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.