Portland General Electric (NYSE:POR) Sets New 1-Year High After Earnings Beat

Portland General Electric (NYSE:POR)’s stock price reached a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $49.81 and last traded at $48.73, with a volume of 127174 shares traded. The stock had previously closed at $48.81.

The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The firm had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. During the same quarter in the prior year, the company earned $0.46 EPS. The business’s revenue was up 15.8% compared to the same quarter last year.

Portland General Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on POR. Evercore ISI started coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target for the company. Bank of America began coverage on shares of Portland General Electric in a report on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Finally, Barclays downgraded Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $48.00 to $49.00 in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $48.25.

Insider Activity

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric 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 owns 14,263 shares of the company’s stock, valued at $688,902.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Institutional Trading of Portland General Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Portland General Electric during the third quarter worth about $25,000. LRI Investments LLC bought a new stake in shares of Portland General Electric during the first quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV raised its position in shares of Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after buying an additional 514 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after buying an additional 265 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Portland General Electric during the second quarter worth $33,000.

Portland General Electric Stock Down 1.0 %

The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $4.98 billion, a PE ratio of 16.61, a PEG ratio of 1.37 and a beta of 0.59. The company’s 50 day moving average is $47.79 and its two-hundred day moving average is $45.44.

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.