Portland General Electric (POR) to Release Earnings on Friday

Portland General Electric (NYSE:POR) is set to post its quarterly earnings results before the market opens on Friday, October 25th. Analysts expect Portland General Electric to post earnings of $0.58 per share for the quarter. Portland General Electric has set its FY 2024 guidance at 2.980-3.180 EPS and its FY24 guidance at $2.98-3.18 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The business had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $716.43 million. During the same period in the prior year, the firm posted $0.44 EPS. Portland General Electric’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, analysts expect Portland General Electric to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Portland General Electric Trading Down 0.9 %

Shares of POR opened at $48.26 on Friday. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.45. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a 50 day simple moving average of $47.53 and a 200-day simple moving average of $45.13. The stock has a market cap of $4.97 billion, a PE ratio of 18.49, a PEG ratio of 1.30 and a beta of 0.59.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 1,886 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total value of $90,528.00. Following the transaction, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total value of $90,528.00. Following the transaction, the chief operating officer now directly owns 30,142 shares in the company, valued at $1,446,816. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,486 shares of company stock worth $262,153. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Bank of America initiated coverage on Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target on the stock. Jefferies Financial Group initiated coverage on Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 price target on the stock. Finally, Barclays lowered Portland General Electric from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $48.00 to $49.00 in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $47.00.

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.