FY2024 Earnings Estimate for POR Issued By KeyCorp

Portland General Electric (NYSE:POR - Free Report) - Investment analysts at KeyCorp increased their FY2024 earnings estimates for shares of Portland General Electric in a research report issued to clients and investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings of $3.08 per share for the year, up from their previous estimate of $3.04. KeyCorp currently has a "Overweight" rating and a $51.00 target price on the stock. The consensus estimate for Portland General Electric's current full-year earnings is $3.11 per share. KeyCorp also issued estimates for Portland General Electric's Q4 2024 earnings at $0.31 EPS, FY2027 earnings at $3.56 EPS and FY2028 earnings at $3.66 EPS.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. The business had revenue of $929.00 million during the quarter, compared to analysts' expectations of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS.

A number of other equities analysts have also recently weighed in on the company. Bank of America started coverage on Portland General Electric in a report on Thursday, September 12th. They set an "underperform" rating and a $47.00 price target for the company. JPMorgan Chase & Co. increased their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Jefferies Financial Group started 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 target on the stock. Barclays decreased their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 29th. Finally, Evercore ISI started coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They issued an "outperform" rating and a $54.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Portland General Electric presently has a consensus rating of "Hold" and an average price target of $49.13.

Portland General Electric Trading Down 0.9 %

Portland General Electric stock traded down $0.41 during mid-day trading on Friday, hitting $46.05. The company's stock had a trading volume of 381,104 shares, compared to its average volume of 782,671. The stock's fifty day moving average is $47.31 and its two-hundred day moving average is $46.23. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $4.86 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85.

Institutional Trading of Portland General Electric

A number of large investors have recently made changes to their positions in POR. Cetera Investment Advisers raised its stake in Portland General Electric by 228.4% in the first quarter. Cetera Investment Advisers now owns 52,833 shares of the utilities provider's stock valued at $2,219,000 after buying an additional 36,744 shares in the last quarter. Cetera Advisors LLC raised its position in shares of Portland General Electric by 231.6% during the 1st quarter. Cetera Advisors LLC now owns 19,499 shares of the utilities provider's stock worth $819,000 after acquiring an additional 13,618 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Portland General Electric during the second quarter worth approximately $31,557,000. Qsemble Capital Management LP purchased a new stake in Portland General Electric during the second quarter worth approximately $678,000. Finally, Choreo LLC acquired a new position in Portland General Electric in the second quarter valued at approximately $965,000.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was 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 of the company's stock, valued at $688,902.90. This trade represents a 14.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by company insiders.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric's payout ratio is currently 59.70%.

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.