Portland General Electric (NYSE:POR) Posts Earnings Results, Misses Expectations By $0.06 EPS

Portland General Electric (NYSE:POR) issued its quarterly earnings results on Wednesday. The utilities provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.06), FiscalAI reports. The business had revenue of $971.00 million during the quarter, compared to analyst estimates of $1.02 billion. Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%. Portland General Electric’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 EPS.

Portland General Electric Stock Up 0.5%

Shares of POR stock traded up $0.23 during trading hours on Thursday, hitting $44.50. 1,249,471 shares of the company were exchanged, compared to its average volume of 1,406,063. The company has a market capitalization of $5.23 billion, a PE ratio of 19.52, a PEG ratio of 2.69 and a beta of 0.49. The business has a 50 day moving average of $46.71 and a two-hundred day moving average of $50.04. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. Portland General Electric has a 52 week low of $43.26 and a 52 week high of $54.62.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, December 22nd will be issued a dividend of $0.5513 per share. The ex-dividend date is Tuesday, December 22nd. This represents a $2.21 dividend on an annualized basis and a yield of 5.0%. Portland General Electric’s payout ratio is currently 96.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on POR shares. BMO Capital Markets decreased their price target on Portland General Electric from $52.00 to $47.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 30th. Weiss Ratings lowered shares of Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. UBS Group lowered their target price on shares of Portland General Electric from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, September 28th. BTIG Research set a $57.00 target price on Portland General Electric in a research report on Tuesday, October 20th. Finally, Zacks Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Portland General Electric presently has an average rating of “Hold” and an average target price of $50.50.

Portland General Electric Company Profile

Portland General Electric Company (NYSE:POR) is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers. The company also offers energy-management programs, renewable energy options and other services designed to support energy efficiency and electrification.

PGE serves communities throughout the state of Oregon, including the Portland metropolitan area and the Willamette Valley. Its operations include a diverse portfolio of power generation resources, transmission and distribution infrastructure, and programs supporting the integration of renewable energy and electric vehicles.

The company traces its history to the development of electric service in Oregon in the late 19th century.