Portland General Electric (POR) Set to Announce Quarterly Earnings on Friday

Portland General Electric (NYSE:POR) will be issuing its quarterly earnings data before the market opens on Friday, July 26th. Analysts expect the company to announce earnings of $0.56 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.Parties interested in registering for the company’s conference call can do so using this link.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $929.00 million for the quarter, compared to the consensus estimate of $828.94 million. During the same quarter in the previous year, the firm earned $0.80 EPS. The company’s quarterly revenue was up 24.2% compared to the same quarter last year. 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 Up 2.0 %

Shares of Portland General Electric stock opened at $47.70 on Thursday. The firm’s 50 day moving average price is $43.85 and its 200-day moving average price is $42.41. The company has a market cap of $4.91 billion, a P/E ratio of 18.28 and a beta of 0.58. The company has a quick ratio of 1.09, a current ratio of 1.22 and a debt-to-equity ratio of 1.34. Portland General Electric has a 52-week low of $38.01 and a 52-week high of $49.72.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 76.63%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on POR. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday. Barclays lifted their price objective on shares of Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, Mizuho lifted their price objective on shares of Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.86.

Insider Activity at Portland General Electric

In related news, VP Brett Michael Sims sold 963 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total value of $43,363.89. Following the completion of the transaction, the vice president now directly owns 13,996 shares in the company, valued at approximately $630,239.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Brett Michael Sims sold 963 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total value of $43,363.89. Following the completion of the transaction, the vice president now directly owns 13,996 shares in the company, valued at approximately $630,239.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Maria Angelica Espinosa sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total transaction of $88,600.00. Following the completion of the transaction, the senior vice president now owns 16,763 shares of the company’s stock, valued at $742,600.90. The disclosure for this sale can be found here. Company 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.