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

Portland General Electric (NYSE:POR) is scheduled to post its quarterly 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.Individual interested in registering for the company’s earnings conference call can do so using this link.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data 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). Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The firm had revenue of $725.00 million for the quarter, compared to analyst estimates of $740.21 million. During the same period in the prior year, the company posted $0.70 EPS. The firm’s quarterly revenue was up 5.5% 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 Up 0.3 %

NYSE:POR opened at $43.69 on Thursday. The stock’s fifty day moving average price is $41.28 and its two-hundred day moving average price is $41.49. Portland General Electric has a 52-week low of $38.01 and a 52-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. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.50 per share. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, June 21st. This represents a $2.00 annualized dividend and a yield of 4.58%. Portland General Electric’s dividend payout ratio 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 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 approximately $1,297,170. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

POR has been the topic of several research reports. Barclays reduced their price objective on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. 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 price target for the company from $55.00 to $43.00 in a research note on Monday, February 5th. UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and cut their price target for the company from $47.00 to $45.00 in a research note on Monday, January 29th. Finally, Mizuho reissued a “neutral” rating and issued a $42.00 price target (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently 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.