Portland General Electric (NYSE:POR) Updates FY 2024 Earnings Guidance

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

Portland General Electric Stock Performance

NYSE:POR opened at $48.82 on Friday. The stock has a 50-day simple moving average of $47.76 and a two-hundred day simple moving average of $45.37. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00. Portland General Electric has a 52-week low of $39.13 and a 52-week high of $49.45. The firm has a market capitalization of $5.03 billion, a PE ratio of 16.78, a P/E/G ratio of 1.37 and a beta of 0.59.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The business had revenue of $758.00 million for the quarter, compared to the consensus estimate of $716.43 million. During the same period in the previous year, the business earned $0.44 earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. Analysts forecast that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 68.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Evercore ISI assumed coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Bank of America began coverage on shares of Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price for the company. Barclays downgraded shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $48.00 to $49.00 in a report on Wednesday, September 18th. Finally, Jefferies Financial Group initiated coverage on shares of Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.25.

Insider Activity

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