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

Portland General Electric (NYSE:POR) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 2.980-3.180 for the period, compared to the consensus earnings per share estimate of 3.060. The company issued revenue guidance of -. Portland General Electric also updated its FY24 guidance to $2.98-3.18 EPS.

Wall Street Analyst Weigh In

A number of brokerages have commented on POR. Barclays increased 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 report on Monday, July 22nd. Mizuho lifted 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. KeyCorp raised Portland General Electric from a sector weight rating to an overweight rating in a research report on Monday, July 22nd. Finally, StockNews.com upgraded Portland General Electric from a sell rating to a hold rating in a research note on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $44.86.

Portland General Electric Stock Down 0.9 %

NYSE POR traded down $0.45 on Friday, hitting $47.42. 1,396,296 shares of the stock traded hands, compared to its average volume of 1,038,488. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. The stock has a 50-day moving average of $43.96 and a 200 day moving average of $42.46. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $48.95. The company has a market capitalization of $4.89 billion, a P/E ratio of 18.17 and a beta of 0.58.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The business had revenue of $758.00 million during the quarter, compared to the consensus estimate of $716.43 million. During the same period in the previous year, the business earned $0.44 EPS. The business’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, analysts expect that Portland General Electric will post 3.08 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be given a $0.50 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.22%. Portland General Electric’s payout ratio is currently 76.63%.

Insider Activity at Portland General Electric

In other Portland General Electric news, VP Brett Michael Sims sold 963 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total value of $43,363.89. Following the transaction, the vice president now owns 13,996 shares of the company’s stock, valued at $630,239.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Brett Michael Sims sold 963 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total transaction of $43,363.89. Following the transaction, the vice president now owns 13,996 shares of the company’s stock, valued at approximately $630,239.88. The disclosure for this sale can be found here. Insiders sold a total of 4,849 shares of company stock valued at $222,492 in the last quarter. Insiders own 0.54% 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. 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.