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, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line. It has 28,206 circuit miles of distribution lines. The company also purchases and sells wholesale natural gas in the United States and Canada. It serves approximately 917 thousand residential, commercial, and industrial customers in 51 cities. The company was founded in 1889 and is headquartered in Portland, Oregon.
Portland General Electric Stock Down 0.4 %
Shares of POR opened at $52.48 on Monday. The firm has a 50 day simple moving average of $49.11 and a two-hundred day simple moving average of $50.80. The company has a market cap of $4.68 billion, a P/E ratio of 19.58, a P/E/G ratio of 4.98 and a beta of 0.51. Portland General Electric has a one year low of $45.02 and a one year high of $57.03. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.87 and a quick ratio of 0.77.
Portland General Electric (NYSE:POR - Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The utilities provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.32. The business had revenue of $591.00 million during the quarter, compared to the consensus estimate of $531.67 million. Portland General Electric had a return on equity of 8.87% and a net margin of 9.73%. Portland General Electric's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 EPS. Research analysts forecast that Portland General Electric will post 2.82 EPS for the current fiscal year.
Portland General Electric Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, September 26th will be issued a dividend of $0.4525 per share. This represents a $1.81 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, September 23rd. Portland General Electric's payout ratio is 67.54%.
Analysts Set New Price Targets
POR has been the topic of a number of research reports. The Goldman Sachs Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $49.00 to $52.00 in a research report on Thursday, June 2nd. Credit Suisse Group began coverage on Portland General Electric in a research report on Monday, April 25th. They set an "underperform" rating and a $55.00 price target on the stock. Mizuho cut shares of Portland General Electric from a "buy" rating to a "neutral" rating and cut their price target for the company from $56.00 to $50.00 in a research note on Tuesday, June 28th. Wells Fargo & Company raised their price objective on shares of Portland General Electric from $53.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 19th. Finally, Bank of America lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $52.00 target price on the stock. in a research note on Monday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $52.67.
Insider Buying and Selling at Portland General Electric
In related news, Director Dawn L. Farrell purchased 4,000 shares of Portland General Electric stock in a transaction on Thursday, May 26th. The shares were purchased at an average price of $48.52 per share, for a total transaction of $194,080.00. Following the transaction, the director now owns 9,223 shares of the company's stock, valued at approximately $447,499.96. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.52% of the company's stock.