Portland General Electric (POR) Scheduled to Post Quarterly Earnings on Friday

Portland General Electric (NYSE:POR) is set to release its earnings data 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 that wish to listen to the company’s earnings conference call can do so using this link.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, February 16th. The utilities provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.20). The firm had revenue of $725.00 million for the quarter, compared to analysts’ expectations of $740.21 million. Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $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 0.6 %

POR stock opened at $43.54 on Wednesday. The company has a market capitalization of $4.40 billion, a PE ratio of 18.69 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.84. Portland General Electric has a one year low of $38.01 and a one year high of $51.58. The company’s 50 day moving average price is $41.21 and its two-hundred day moving average price is $41.47.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 24th will be issued a $0.50 dividend. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, June 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.59%. Portland General Electric’s dividend payout ratio (DPR) is currently 81.55%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on POR shares. Mizuho reissued a “neutral” rating and issued a $42.00 target price (down from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Bank of America lowered shares of 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. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $47.00 to $45.00 in a report on Monday, January 29th. Barclays reduced their target price 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. Finally, StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.13.

Insider Transactions at Portland General Electric

In related news, COO Benjamin Felton sold 3,500 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction 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 the SEC website. Company 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.