Portland General Electric (POR) Scheduled to Post Earnings on Friday

Portland General Electric (NYSE:POR) will announce its earnings results before the market opens on Friday, October 25th. Analysts expect the company to announce earnings of $0.58 per share for the quarter. Portland General Electric has set its FY 2024 guidance at 2.980-3.180 EPS and its FY24 guidance at $2.98-3.18 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. The firm had revenue of $758.00 million for the quarter, compared to the consensus estimate of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 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

NYSE POR opened at $49.00 on Thursday. The business’s 50 day moving average price is $47.71 and its 200-day moving average price is $45.35. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.45. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00. The company has a market cap of $5.05 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.36 and a beta of 0.59.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s payout ratio is currently 76.63%.

Insider Buying and Selling

In related news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at $1,045,527.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at $1,045,527.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

POR has been the subject of several research reports. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America initiated coverage on Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price for the company. Jefferies Financial Group started coverage on Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 target price for the company. Finally, Barclays cut Portland General Electric from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $48.00 to $49.00 in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and a consensus price target of $48.25.

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.