Portland General Electric (NYSE:POR) Issues FY24 Earnings Guidance

Portland General Electric (NYSE:POR) updated its FY24 earnings guidance on Friday. The company provided EPS guidance of $3.08-3.18 for the period, compared to the consensus EPS estimate of $3.09. Portland General Electric also updated its FY 2024 guidance to 3.080-3.180 EPS.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Bank of America started coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price for the company. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Jefferies Financial Group began coverage on Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 target price on the stock. Evercore ISI started coverage on Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target for the company. Finally, Barclays cut shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $48.00 to $49.00 in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $48.25.

Portland General Electric Trading Down 1.0 %

Shares of POR stock opened at $48.34 on Monday. The business’s 50 day moving average is $47.79 and its two-hundred day moving average is $45.44. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The company has a market cap of $4.98 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 1.37 and a beta of 0.59.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The firm had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. During the same quarter last year, the firm posted $0.46 EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. Equities analysts predict that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) is currently 76.63%.

Insider Transactions at Portland General Electric

In other news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the sale, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the sale, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

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.