Portland General Electric (NYSE:POR) Issues Earnings Results

Key Points

• Earnings and revenue miss: Portland General Electric reported Q EPS of $0.58 versus $0.77 expected and revenue of $879.0M versus $953.24M expected, with quarterly revenue down 5.3% year‑over‑year; shares fell about 4.1% to $49.81.
• Dividend raised: The company increased its quarterly dividend to $0.5513 (from $0.53), equal to a $2.21 annualized payout and a ~4.4% yield, with a dividend payout ratio of roughly 75.8%.
• Analyst and insider activity: MarketBeat data shows an average analyst rating of "Hold" with a $51.00 target (1 Buy, 9 Hold, 1 Sell), and an EVP recently sold 4,969 shares while several institutions modestly adjusted stakes.

Portland General Electric (NYSE:POR - Get Free Report) issued its earnings results on Thursday. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.19), Briefing.com reports. Portland General Electric had a return on equity of 8.52% and a net margin of 8.56%.The company had revenue of $879.00 million for the quarter, compared to the consensus estimate of $953.24 million. During the same quarter last year, the business posted $0.91 EPS. Portland General Electric's quarterly revenue was down 5.3% on a year-over-year basis.

Portland General Electric Stock Down 4.1%

Shares of NYSE:POR traded down $2.12 during trading on Friday, hitting $49.81. 2,025,052 shares of the company's stock traded hands, compared to its average volume of 1,290,814. Portland General Electric has a 52 week low of $39.54 and a 52 week high of $54.62. The company has a current ratio of 1.08, a quick ratio of 0.95 and a debt-to-equity ratio of 1.19. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 2.12 and a beta of 0.62. The company has a 50-day moving average price of $52.59 and a 200-day moving average price of $50.07.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, June 25th will be issued a dividend of $0.5513 per share. This is a boost from Portland General Electric's previous quarterly dividend of $0.53. The ex-dividend date is Thursday, June 25th. This represents a $2.21 annualized dividend and a dividend yield of 4.4%. Portland General Electric's dividend payout ratio (DPR) is presently 75.81%.

Insider Buying and Selling at Portland General Electric

In other news, EVP Benjamin Felton sold 4,969 shares of Portland General Electric stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $53.56, for a total transaction of $266,139.64. Following the transaction, the executive vice president owned 41,081 shares in the company, valued at $2,200,298.36. The trade was a 10.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Portland General Electric

Several institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC lifted its holdings in shares of Portland General Electric by 10.1% during the 4th quarter. Corient Private Wealth LLC now owns 10,254 shares of the utilities provider's stock valued at $483,000 after purchasing an additional 943 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Portland General Electric by 14.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 82,296 shares of the utilities provider's stock valued at $3,949,000 after acquiring an additional 10,160 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Portland General Electric in the 4th quarter valued at approximately $593,000. Mackenzie Financial Corp lifted its stake in Portland General Electric by 66.6% in the 4th quarter. Mackenzie Financial Corp now owns 114,810 shares of the utilities provider's stock valued at $5,510,000 after acquiring an additional 45,887 shares in the last quarter. Finally, XTX Topco Ltd lifted its stake in Portland General Electric by 126.9% in the 4th quarter. XTX Topco Ltd now owns 25,290 shares of the utilities provider's stock valued at $1,214,000 after acquiring an additional 14,145 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on POR shares. Wells Fargo & Company set a $51.00 target price on Portland General Electric in a report on Tuesday, April 21st. BMO Capital Markets restated a "market perform" rating and set a $55.00 target price on shares of Portland General Electric in a report on Thursday, February 19th. JPMorgan Chase & Co. raised their target price on Portland General Electric from $51.00 to $54.00 and gave the stock a "neutral" rating in a report on Monday, April 20th. BTIG Research restated a "buy" rating and set a $58.00 target price on shares of Portland General Electric in a report on Friday, January 30th. Finally, Barclays raised their target price on Portland General Electric from $47.00 to $53.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $51.00.

Portland General Electric Company Profile

Portland General Electric NYSE: POR is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon's largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.

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