Portland General Electric (NYSE:POR) Expected to Earn Q4 2024 Earnings of $0.61 Per Share

Portland General Electric (NYSE:POR) – Analysts at KeyCorp issued their Q4 2024 earnings estimates for shares of Portland General Electric in a report issued on Sunday, July 21st. KeyCorp analyst S. Karp expects that the utilities provider will earn $0.61 per share for the quarter. KeyCorp currently has a “Overweight” rating on the stock. The consensus estimate for Portland General Electric’s current full-year earnings is $3.09 per share. KeyCorp also issued estimates for Portland General Electric’s FY2028 earnings at $3.68 EPS.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.12. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The business had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $828.94 million. During the same quarter in the prior year, the business posted $0.80 EPS. The company’s revenue for the quarter was up 24.2% on a year-over-year basis.

Other analysts have also recently issued research reports about the stock. Barclays increased their price target on shares of Portland General Electric from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday. Mizuho increased their price target on shares of Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Finally, StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Portland General Electric currently has an average rating of “Moderate Buy” and an average target price of $44.86.

Portland General Electric Trading Up 0.4 %

Shares of Portland General Electric stock opened at $47.87 on Wednesday. The company has a fifty day simple moving average of $43.91 and a 200-day simple moving average of $42.45. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $49.72. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 18.34 and a beta of 0.58.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 24th. This represents a $2.00 annualized dividend and a yield of 4.18%. Portland General Electric’s dividend payout ratio (DPR) is currently 76.63%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the transaction, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total transaction of $88,600.00. Following the sale, the senior vice president now directly owns 16,763 shares of the company’s stock, valued at approximately $742,600.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the sale, the chief operating officer now directly owns 30,142 shares in the company, valued at $1,446,816. The disclosure for this sale can be found here. In the last three months, insiders sold 4,849 shares of company stock worth $222,492. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Portland General Electric

Several hedge funds have recently modified their holdings of POR. Leeward Investments LLC MA raised its holdings in Portland General Electric by 16.9% in the fourth quarter. Leeward Investments LLC MA now owns 546,701 shares of the utilities provider’s stock valued at $23,694,000 after buying an additional 79,052 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Portland General Electric by 205.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 78,278 shares of the utilities provider’s stock valued at $3,338,000 after buying an additional 52,620 shares during the period. Assenagon Asset Management S.A. purchased a new position in Portland General Electric in the fourth quarter valued at approximately $3,644,000. Jump Financial LLC purchased a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $1,788,000. Finally, Principal Financial Group Inc. raised its stake in shares of Portland General Electric by 5.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,966,720 shares of the utilities provider’s stock valued at $85,238,000 after purchasing an additional 100,496 shares during the period.

Portland General Electric Company Profile

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.