Q4 2022 Earnings Estimate for Portland General Electric (NYSE:POR) Issued By KeyCorp

Portland General Electric (NYSE:PORGet Rating) – Stock analysts at KeyCorp reduced their Q4 2022 earnings per share (EPS) estimates for Portland General Electric in a report issued on Tuesday, August 2nd. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings of $0.66 per share for the quarter, down from their prior forecast of $0.69. The consensus estimate for Portland General Electric’s current full-year earnings is $2.82 per share.

POR has been the topic of a number of other reports. Wells Fargo & Company lifted their price objective on Portland General Electric from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 19th. Bank of America lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a research note on Monday. Credit Suisse Group started coverage on Portland General Electric in a research note on Monday, April 25th. They issued an “underperform” rating and a $55.00 price objective on the stock. Mizuho lowered Portland General Electric from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $56.00 to $50.00 in a research note on Tuesday, June 28th. Finally, The Goldman Sachs Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $52.00 in a research note on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $52.67.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $52.40 on Wednesday. Portland General Electric has a fifty-two week low of $45.02 and a fifty-two week high of $57.03. The business has a 50-day moving average of $48.94 and a two-hundred day moving average of $50.84. The stock has a market capitalization of $4.68 billion, a P/E ratio of 19.55, a P/E/G ratio of 4.21 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.87 and a quick ratio of 0.77.

Portland General Electric (NYSE:PORGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The utilities provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.32. Portland General Electric had a return on equity of 8.87% and a net margin of 9.73%. The company had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $531.67 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, September 26th will be paid a dividend of $0.4525 per share. The ex-dividend date is Friday, September 23rd. This represents a $1.81 annualized dividend and a yield of 3.45%. Portland General Electric’s dividend payout ratio is 67.54%.

Insider Activity at Portland General Electric

In other news, Director Dawn L. Farrell purchased 4,000 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were purchased at an average cost of $48.52 per share, for a total transaction of $194,080.00. Following the completion of the purchase, the director now directly owns 9,223 shares of the company’s stock, valued at approximately $447,499.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Portland General Electric

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Portland General Electric by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 9,727,335 shares of the utilities provider’s stock valued at $536,463,000 after purchasing an additional 288,965 shares during the period. Wellington Management Group LLP grew its stake in shares of Portland General Electric by 21.8% in the 1st quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider’s stock valued at $334,647,000 after purchasing an additional 1,087,996 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Portland General Electric by 95.5% in the 4th quarter. JPMorgan Chase & Co. now owns 5,941,339 shares of the utilities provider’s stock valued at $314,415,000 after purchasing an additional 2,902,218 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Portland General Electric by 0.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,457,203 shares of the utilities provider’s stock valued at $245,815,000 after purchasing an additional 21,930 shares during the period. Finally, State Street Corp grew its stake in shares of Portland General Electric by 16.1% in the 1st quarter. State Street Corp now owns 2,434,259 shares of the utilities provider’s stock valued at $135,271,000 after purchasing an additional 337,867 shares during the period. 91.92% of the stock is currently owned by institutional investors.

About Portland General Electric

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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.

Further Reading

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

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