Portland General Electric (NYSE:POR) Updates FY24 Earnings Guidance

Portland General Electric (NYSE:POR - Get Free Report) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $3.08-3.18 for the period, compared to the consensus earnings per share estimate of $3.09. Portland General Electric also updated its FY 2024 guidance to 3.080-3.180 EPS.

Wall Street Analyst Weigh In

A number of analysts have weighed in on POR shares. Jefferies Financial Group initiated coverage on Portland General Electric in a research note on Friday, September 20th. They issued a "hold" rating and a $48.00 target price on the stock. Evercore ISI initiated coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $54.00 price target for the company. Barclays lowered shares of Portland General Electric from an "overweight" rating to an "equal weight" rating and lifted their price target for the stock from $48.00 to $49.00 in a report on Wednesday, September 18th. StockNews.com upgraded Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an "overweight" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $48.25.

Portland General Electric Stock Performance

Shares of NYSE:POR traded down $0.48 during trading on Friday, hitting $48.33. 1,498,020 shares of the stock traded hands, compared to its average volume of 950,543. The company has a fifty day moving average price of $47.76 and a two-hundred day moving average price of $45.37. Portland General Electric has a 52-week low of $39.13 and a 52-week high of $49.85. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 1.37 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.32. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The business had revenue of $929.00 million during the quarter, compared to analysts' expectations of $882.66 million. During the same period in the previous year, the business earned $0.46 earnings per share. The business's revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts predict that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.14%. Portland General Electric's dividend payout ratio (DPR) is presently 68.73%.

Insider Activity at Portland General Electric

In other news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of 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 Securities & Exchange Commission, which is available at this link. In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares of the company's stock, valued at $688,902.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Teeruk Kochavatr sold 1,100 shares of the business's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate 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.