Q3 2018 EPS Estimates for Portland General Electric (NYSE:POR) Lowered by Analyst

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Portland General Electric (NYSE:POR) – Research analysts at KeyCorp decreased their Q3 2018 earnings per share (EPS) estimates for shares of Portland General Electric in a note issued to investors on Thursday, October 18th, Zacks Investment Research reports. KeyCorp analyst P. Ridzon now anticipates that the utilities provider will earn $0.47 per share for the quarter, down from their previous forecast of $0.49.

Other equities analysts have also issued research reports about the stock. UBS Group boosted their target price on shares of Portland General Electric from $40.00 to $42.00 and gave the company a “$45.10” rating in a report on Thursday, July 19th. ValuEngine upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Mizuho restated a “buy” rating and issued a $45.50 target price on shares of Portland General Electric in a report on Friday, July 20th. Zacks Investment Research upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Friday, October 12th. Finally, Wells Fargo & Co boosted their target price on shares of Portland General Electric from $47.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, September 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.83.

Shares of Portland General Electric stock traded up $0.65 during trading on Monday, hitting $47.50. The company’s stock had a trading volume of 982,232 shares, compared to its average volume of 700,751. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 6.08 and a beta of 0.19. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 0.86. Portland General Electric has a 52 week low of $39.02 and a 52 week high of $50.11.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, October 26th. The utilities provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.09. Portland General Electric had a net margin of 10.34% and a return on equity of 9.05%. The company had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $527.63 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Portland General Electric’s revenue for the quarter was up 1.9% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, December 26th will be issued a dividend of $0.3625 per share. The ex-dividend date of this dividend is Monday, December 24th. This represents a $1.45 annualized dividend and a dividend yield of 3.05%. Portland General Electric’s dividend payout ratio is currently 63.32%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its holdings in shares of Portland General Electric by 206.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,146 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 1,446 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Portland General Electric by 185.7% during the third quarter. PNC Financial Services Group Inc. now owns 3,026 shares of the utilities provider’s stock valued at $139,000 after purchasing an additional 1,967 shares during the period. Gardiner Nancy B acquired a new position in shares of Portland General Electric during the third quarter valued at about $205,000. Hartford Investment Management Co. acquired a new position in shares of Portland General Electric during the second quarter valued at about $218,000. Finally, Covalis Capital LLP acquired a new position in shares of Portland General Electric during the second quarter valued at about $237,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

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. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2017, it owned an electric transmission system consisting of 1,250 circuit miles, including 287 circuit miles of 500 kilovolt line, 402 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.

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