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

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on POR shares. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. raised their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays downgraded shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $48.00 to $49.00 in a research report on Wednesday, September 18th. Jefferies Financial Group assumed coverage on shares of Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 price objective for the company. Finally, Bank of America assumed coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $48.25.

Portland General Electric Stock Down 1.0 %

POR traded down $0.48 during mid-day trading on Friday, reaching $48.33. 1,498,020 shares of the stock were exchanged, compared to its average volume of 950,543. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00. The stock has a market capitalization of $4.98 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 1.37 and a beta of 0.59. The company has a 50 day moving average price of $47.76 and a two-hundred day moving average price of $45.37. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.32. The company had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $882.66 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 EPS. As a group, research analysts anticipate that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be paid 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 is currently 68.73%.

Insider Activity at Portland General Electric

In other news, VP John Teeruk Kochavatr sold 1,100 shares of the company’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 directly owns 22,606 shares in the company, valued at $1,045,527.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the company’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 directly owns 22,606 shares in the company, valued at $1,045,527.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now owns 14,263 shares in the company, valued at approximately $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

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.