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

Portland General Electric (NYSE:PORGet Rating) is set to announce its earnings results before the market opens on Thursday, April 28th. Analysts expect the company to announce earnings of $1.09 per share for the quarter. Portland General Electric has set its FY 2022 guidance at $2.750-$2.900 EPS and its FY22 guidance at $2.75-2.90 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Portland General Electric (NYSE:PORGet Rating) last released its quarterly earnings results on Thursday, February 17th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.01). The business had revenue of $608.00 million for the quarter, compared to the consensus estimate of $533.12 million. Portland General Electric had a net margin of 10.18% and a return on equity of 9.11%. Portland General Electric’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 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.

POR stock opened at $54.23 on Thursday. The company has a fifty day moving average price of $53.31 and a 200-day moving average price of $51.67. The company has a market capitalization of $4.86 billion, a P/E ratio of 19.94, a PEG ratio of 4.24 and a beta of 0.45. Portland General Electric has a 52-week low of $45.40 and a 52-week high of $57.03. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 0.90.

The company also recently announced a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Friday, March 25th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Thursday, March 24th. Portland General Electric’s dividend payout ratio is presently 63.24%.

In other Portland General Electric news, VP Larry Neal Bekkedahl sold 2,500 shares of Portland General Electric stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $54.73, for a total value of $136,825.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kathryn Jean Jackson sold 5,000 shares of Portland General Electric stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of $48.79, for a total transaction of $243,950.00. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. MML Investors Services LLC raised its position in Portland General Electric by 5.4% in the fourth quarter. MML Investors Services LLC now owns 12,286 shares of the utilities provider’s stock worth $650,000 after acquiring an additional 633 shares during the period. Keudell Morrison Wealth Management raised its position in Portland General Electric by 10.4% in the third quarter. Keudell Morrison Wealth Management now owns 16,273 shares of the utilities provider’s stock worth $765,000 after acquiring an additional 1,533 shares during the period. LPL Financial LLC raised its position in shares of Portland General Electric by 6.8% in the third quarter. LPL Financial LLC now owns 26,029 shares of the utilities provider’s stock valued at $1,223,000 after purchasing an additional 1,664 shares during the period. California State Teachers Retirement System raised its position in shares of Portland General Electric by 2.1% in the fourth quarter. California State Teachers Retirement System now owns 125,347 shares of the utilities provider’s stock valued at $6,633,000 after purchasing an additional 2,523 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Portland General Electric in the fourth quarter valued at approximately $336,000. 92.24% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Portland General Electric in a research note on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company lifted their target price on shares of Portland General Electric from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday. Barclays upgraded shares of Portland General Electric from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $53.00 to $57.00 in a report on Tuesday. Finally, Mizuho upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and raised their price target for the stock from $54.00 to $61.00 in a report on Thursday, April 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $59.00.

About Portland General Electric (Get Rating)

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, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.

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Earnings History for Portland General Electric (NYSE:POR)

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