Q2 2022 EPS Estimates for Portland General Electric (NYSE:POR) Lifted by KeyCorp

Portland General Electric (NYSE:POR – Get Rating) – Research analysts at KeyCorp raised their Q2 2022 earnings per share (EPS) estimates for shares of Portland General Electric in a research report issued on Tuesday, April 19th. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings of $0.45 per share for the quarter, up from their previous forecast of $0.41. KeyCorp also issued estimates for Portland General Electric’s Q3 2022 earnings at $0.69 EPS, Q4 2022 earnings at $0.77 EPS, FY2022 earnings at $2.75 EPS, FY2023 earnings at $2.85 EPS, FY2024 earnings at $2.98 EPS and FY2026 earnings at $3.29 EPS.

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

POR has been the topic of a number of other research reports. Barclays upgraded Portland General Electric from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $53.00 to $57.00 in a report on Tuesday. StockNews.com began coverage on Portland General Electric in a research note on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company boosted their price objective on Portland General Electric from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Zacks Investment Research cut Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Mizuho raised Portland General Electric from a “neutral” rating to a “buy” rating and upped their price target for the company from $54.00 to $61.00 in a report on Thursday, April 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.00.

Shares of NYSE:POR opened at $54.01 on Friday. The company has a market cap of $4.84 billion, a PE ratio of 19.86, a P/E/G ratio of 4.24 and a beta of 0.45. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 1.31. The company’s 50-day moving average price is $53.36 and its 200 day moving average price is $51.68. Portland General Electric has a fifty-two week low of $45.40 and a fifty-two week high of $57.03.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Portland General Electric by 22.7% in the 3rd quarter. BlackRock Inc. now owns 9,327,926 shares of the utilities provider’s stock valued at $438,319,000 after acquiring an additional 1,725,133 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Portland General Electric by 95.5% during the fourth quarter. JPMorgan Chase & Co. now owns 5,941,339 shares of the utilities provider’s stock valued at $314,415,000 after buying an additional 2,902,218 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Portland General Electric by 5.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,345,862 shares of the utilities provider’s stock valued at $124,144,000 after buying an additional 117,101 shares during the period. State Street Corp raised its stake in shares of Portland General Electric by 1.8% during the 4th quarter. State Street Corp now owns 2,096,392 shares of the utilities provider’s stock valued at $111,819,000 after purchasing an additional 37,184 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Portland General Electric by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 1,795,858 shares of the utilities provider’s stock valued at $95,036,000 after purchasing an additional 74,975 shares during the period. 92.24% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Larry Neal Bekkedahl sold 2,500 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kathryn Jean Jackson sold 5,000 shares of the firm’s 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. Corporate insiders own 0.52% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Friday, March 25th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Thursday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 63.24%.

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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