Portland General Electric (NYSE:POR) Issues Earnings Results

Key Points

• Portland General Electric reported a Q2 earnings per share (EPS) of $0.66, exceeding analyst expectations of $0.65, with a year-over-year revenue increase of 6.5% to $807 million.
• The company declared a quarterly dividend of $0.525 per share, marking a 5.07% dividend yield, and has set its FY 2025 EPS guidance between $3.130 and $3.330.
• Shares of Portland General Electric rose by $1.67 to $41.40 on the day of the earnings announcement, with a current market capitalization of $4.53 billion.

Portland General Electric (NYSE:POR - Get Free Report) posted its earnings results on Friday. The utilities provider reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.01, Zacks reports. Portland General Electric had a net margin of 8.84% and a return on equity of 8.24%. The business had revenue of $807.00 million during the quarter, compared to the consensus estimate of $797.97 million. During the same quarter in the previous year, the firm posted $0.69 EPS. The firm's revenue was up 6.5% on a year-over-year basis. Portland General Electric updated its FY 2025 guidance to 3.130-3.330 EPS.

Portland General Electric Price Performance

Shares of POR traded up $1.67 during trading hours on Friday, reaching $41.40. 2,267,940 shares of the stock traded hands, compared to its average volume of 1,356,969. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.28. Portland General Electric has a 52-week low of $39.54 and a 52-week high of $49.85. The company's 50-day moving average price is $41.10 and its two-hundred day moving average price is $42.16. The company has a market cap of $4.53 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 3.69 and a beta of 0.56.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, September 25th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date is Thursday, September 25th. Portland General Electric's dividend payout ratio (DPR) is 73.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. KeyCorp downgraded shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price for the company. in a research report on Wednesday, May 14th. Wells Fargo & Company cut their target price on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Evercore ISI cut their target price on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. BMO Capital Markets started coverage on shares of Portland General Electric in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 target price for the company. Finally, UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $47.00 to $50.00 in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $45.40.

Insider Buying and Selling at Portland General Electric

In related news, Director Michael A. Lewis sold 1,937 shares of Portland General Electric stock in a transaction on Monday, July 21st. The shares were sold at an average price of $40.10, for a total transaction of $77,673.70. Following the transaction, the director owned 13,509 shares in the company, valued at approximately $541,710.90. The trade was a 12.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Portland General Electric by 6.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,640 shares of the utilities provider's stock valued at $10,420,000 after buying an additional 13,799 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Portland General Electric by 2,620.6% during the 1st quarter. Jane Street Group LLC now owns 208,998 shares of the utilities provider's stock valued at $9,321,000 after buying an additional 201,316 shares in the last quarter. Royal Bank of Canada lifted its stake in Portland General Electric by 7.4% in the 1st quarter. Royal Bank of Canada now owns 161,931 shares of the utilities provider's stock worth $7,222,000 after purchasing an additional 11,141 shares in the last quarter. Millennium Management LLC lifted its stake in Portland General Electric by 465.5% in the 1st quarter. Millennium Management LLC now owns 151,134 shares of the utilities provider's stock worth $6,741,000 after purchasing an additional 124,410 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Portland General Electric by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,949 shares of the utilities provider's stock worth $2,763,000 after purchasing an additional 2,717 shares in the last quarter.

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.

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