Portland General Electric (POR) to Release Earnings on Friday

Portland General Electric (NYSE:POR) is scheduled to be posting its quarterly earnings results 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.Investors that wish to register for the company’s conference call can do so using this link.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, February 16th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.20). The business had revenue of $725.00 million during the quarter, compared to analyst estimates of $740.21 million. Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm 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 Stock Performance

Shares of POR opened at $41.74 on Friday. The firm’s 50 day moving average is $40.99 and its 200-day moving average is $41.37. The stock has a market capitalization of $4.22 billion, a P/E ratio of 17.71 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.84 and a quick ratio of 0.74. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $51.58.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 22nd were given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.55%. The ex-dividend date was Thursday, March 21st. Portland General Electric’s dividend payout ratio (DPR) is currently 81.55%.

Analysts Set New Price Targets

POR has been the topic of several analyst reports. UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $47.00 to $45.00 in a research report on Monday, January 29th. Mizuho reiterated 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. StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Bank of America cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $55.00 to $43.00 in a research note on Monday, February 5th. Finally, Barclays cut their target price on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.13.

Insider Activity

In related news, COO Benjamin Felton sold 3,500 shares of the 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 completion of the sale, the chief operating officer now owns 31,950 shares in the company, valued at approximately $1,297,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co NY raised its holdings in Portland General Electric by 4.4% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 5,617 shares of the utilities provider’s stock worth $275,000 after buying an additional 237 shares during the period. Captrust Financial Advisors boosted its position in Portland General Electric by 6.4% during the first quarter. Captrust Financial Advisors now owns 4,394 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 264 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Portland General Electric by 0.8% in the third quarter. Commonwealth Equity Services LLC now owns 34,001 shares of the utilities provider’s stock valued at $1,477,000 after acquiring an additional 268 shares during the period. Baird Financial Group Inc. boosted its position in shares of Portland General Electric by 0.7% in the fourth quarter. Baird Financial Group Inc. now owns 41,436 shares of the utilities provider’s stock valued at $2,030,000 after acquiring an additional 268 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Portland General Electric by 7.7% in the third quarter. Public Employees Retirement System of Ohio now owns 4,566 shares of the utilities provider’s stock valued at $185,000 after acquiring an additional 325 shares during the period.

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.