Portland General Electric (NYSE:POR) Releases FY 2022 Earnings Guidance

Portland General Electric (NYSE:PORGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $2.50-$2.65 for the period, compared to the consensus earnings per share estimate of $2.75. The company issued revenue guidance of -.

A number of research analysts recently commented on the stock. Mizuho lowered their price objective on shares of Portland General Electric from $61.00 to $56.00 in a research report on Friday, April 29th. Zacks Investment Research downgraded shares of Portland General Electric from a hold rating to a sell rating in a research report on Tuesday, April 19th. Barclays raised shares of Portland General Electric from an underweight rating to an equal weight rating and boosted their target price for the stock from $53.00 to $57.00 in a research report on Tuesday, April 19th. Credit Suisse Group began coverage on shares of Portland General Electric in a research report on Monday, April 25th. They issued an underperform rating and a $55.00 target price for the company. Finally, Wells Fargo & Company boosted 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 report on Tuesday, April 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $57.20.

Shares of Portland General Electric stock traded up $0.18 on Tuesday, reaching $47.10. The stock had a trading volume of 2,412 shares, compared to its average volume of 608,562. The business’s 50-day moving average price is $53.09 and its two-hundred day moving average price is $51.76. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.86 and a current ratio of 0.94. Portland General Electric has a fifty-two week low of $45.40 and a fifty-two week high of $57.03. The stock has a market cap of $4.20 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 4.14 and a beta of 0.53.

Portland General Electric (NYSE:PORGet Rating) last released its earnings results on Thursday, April 28th. The utilities provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.20). The company had revenue of $626.00 million for the quarter, compared to analyst estimates of $610.48 million. Portland General Electric had a net margin of 8.62% and a return on equity of 7.74%. Portland General Electric’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.07 earnings per share. As a group, equities analysts forecast that Portland General Electric will post 2.58 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Monday, June 27th will be paid a dividend of $0.4525 per share. This is a boost from Portland General Electric’s previous quarterly dividend of $0.43. This represents a $1.81 annualized dividend and a yield of 3.84%. The ex-dividend date is Friday, June 24th. Portland General Electric’s dividend payout ratio is presently 74.14%.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc grew its holdings in shares of Portland General Electric by 3.8% in the 4th quarter. Legal & General Group Plc now owns 697,720 shares of the utilities provider’s stock worth $36,923,000 after purchasing an additional 25,229 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Portland General Electric by 31.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 693,987 shares of the utilities provider’s stock worth $36,726,000 after purchasing an additional 166,628 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Portland General Electric by 1.7% in the 4th quarter. Parametric Portfolio Associates LLC now owns 495,206 shares of the utilities provider’s stock worth $26,206,000 after purchasing an additional 8,480 shares during the last quarter. Morgan Stanley grew its holdings in shares of Portland General Electric by 61.5% in the 2nd quarter. Morgan Stanley now owns 355,401 shares of the utilities provider’s stock worth $16,377,000 after purchasing an additional 135,368 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Portland General Electric by 3.6% during the 4th quarter. Wells Fargo & Company MN now owns 352,156 shares of the utilities provider’s stock worth $18,636,000 after acquiring an additional 12,302 shares during the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Portland General Electric Company Profile (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.

See Also

Earnings History and Estimates for Portland General Electric (NYSE:POR)

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