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

Portland General Electric (NYSE:POR) is set to issue 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 that are 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 results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.12. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The firm had revenue of $929.00 million during the quarter, compared to the consensus estimate of $828.94 million. During the same period last year, the business posted $0.80 EPS. The business’s 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 Performance

Shares of Portland General Electric stock opened at $47.70 on Thursday. The company has a market cap of $4.91 billion, a P/E ratio of 18.28 and a beta of 0.58. The business has a 50-day moving average price of $43.85 and a two-hundred day moving average price of $42.41. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $49.72.

Portland General Electric Dividend Announcement

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

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total value of $88,600.00. Following the completion of the transaction, the senior vice president now directly owns 16,763 shares of the company’s stock, valued at approximately $742,600.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Brett Michael Sims sold 963 shares of Portland General Electric stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total transaction of $43,363.89. Following the completion of the sale, the vice president now directly owns 13,996 shares of the company’s stock, valued at approximately $630,239.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,000 shares of Portland General Electric stock in a transaction on Tuesday, May 7th. The stock was 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 $742,600.90. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

POR has been the topic of several recent research reports. Mizuho raised their price target on shares of Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Barclays raised their price target on shares of Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.86.

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.