Portland General Electric (NYSE:POR) – KeyCorp boosted their FY2023 earnings per share (EPS) estimates for Portland General Electric in a report issued on Wednesday, November 24th. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings per share of $2.95 for the year, up from their prior estimate of $2.94. KeyCorp also issued estimates for Portland General Electric’s FY2024 earnings at $3.07 EPS and FY2025 earnings at $3.20 EPS.
A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 3rd. TheStreet upgraded shares of Portland General Electric from a “c+” rating to a “b” rating in a research note on Friday, October 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.33.
Shares of POR stock opened at $50.56 on Thursday. The stock has a market capitalization of $4.52 billion, a P/E ratio of 19.75, a PEG ratio of 2.10 and a beta of 0.41. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 1.27. The firm’s 50 day moving average is $48.93 and its 200 day moving average is $49.02. Portland General Electric has a 12 month low of $40.14 and a 12 month high of $52.47. Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Thursday, October 28th. The utilities provider reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.07). The business had revenue of $642.00 million for the quarter, compared to analysts’ expectations of $550.87 million. Portland General Electric had a net margin of 9.81% and a return on equity of 8.66%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share.
Large investors have recently modified their holdings of the company. Front Row Advisors LLC increased its holdings in shares of Portland General Electric by 507.1% in the 2nd quarter. Front Row Advisors LLC now owns 595 shares of the utilities provider’s stock worth $30,000 after buying an additional 497 shares during the last quarter. Destiny Wealth Partners LLC bought a new position in shares of Portland General Electric in the 3rd quarter worth $51,000. C M Bidwell & Associates Ltd. bought a new position in shares of Portland General Electric in the 3rd quarter worth $54,000. Tompkins Financial Corp bought a new position in shares of Portland General Electric in the 3rd quarter worth $56,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Portland General Electric in the 1st quarter worth $57,000. 93.65% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Larry Neal Bekkedahl sold 5,100 shares of the company’s stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $51.87, for a total transaction of $264,537.00. Following the sale, the vice president now owns 13,041 shares of the company’s stock, valued at approximately $676,436.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.49% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 18th. Investors of record on Monday, December 27th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, December 23rd. Portland General Electric’s dividend payout ratio (DPR) is presently 67.19%.
Portland General Electric Company Profile
Portland General Electric Co is a vertically integrated electric utility company, which engages in the generation, purchase, transmission, distribution, and retail of electricity. The firm sells electricity and natural gas in the wholesale market to utilities, brokers, and power marketers. It also serves residential, commercial and non-residential customers.