Portland General Electric (NYSE:POR) Issues Quarterly Earnings Results

Portland General Electric (NYSE:POR) issued its quarterly earnings data on Friday. The utilities provider reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.10, MarketWatch Earnings reports. Portland General Electric had a net margin of 10.46% and a return on equity of 8.59%. The business had revenue of $469.00 million during the quarter, compared to analysts’ expectations of $455.83 million. During the same period in the previous year, the company earned $0.28 earnings per share. Portland General Electric’s revenue for the quarter was up 2.0% on a year-over-year basis. Portland General Electric updated its FY 2020
Pre-Market guidance to 2.20-2.50 EPS and its FY20 guidance to $2.20-2.50 EPS.

Shares of POR stock opened at $44.13 on Friday. The firm’s 50 day moving average price is $42.97 and its two-hundred day moving average price is $49.52. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.80. Portland General Electric has a 52-week low of $37.83 and a 52-week high of $63.08. The stock has a market cap of $3.95 billion, a PE ratio of 17.79, a PEG ratio of 3.50 and a beta of 0.31.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be issued a $0.4075 dividend. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.39. This represents a $1.63 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Thursday, September 24th. Portland General Electric’s dividend payout ratio is currently 64.44%.

POR has been the subject of a number of research analyst reports. Guggenheim raised shares of Portland General Electric from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $44.00 to $45.00 in a research report on Monday, April 27th. They noted that the move was a valuation call. TheStreet downgraded Portland General Electric from a “b-” rating to a “c+” rating in a research note on Monday, July 27th. Wolfe Research raised Portland General Electric from an “underperform” rating to a “peer perform” rating and set a $43.00 target price on the stock in a report on Friday, July 17th. Wells Fargo & Co cut their price target on Portland General Electric from $64.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, April 27th. Finally, Zacks Investment Research raised Portland General Electric from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, June 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.94.

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. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.

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Earnings History for Portland General Electric (NYSE:POR)

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