Portland General Electric (NYSE:POR) Releases FY 2020 Pre-Market Earnings Guidance

Portland General Electric (NYSE:POR) updated its FY 2020
Pre-Market earnings guidance on Friday. The company provided earnings per share guidance of 2.20-2.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.39. Portland General Electric also updated its FY20 guidance to $2.20-2.50 EPS.

A number of research firms have commented on POR. Wells Fargo & Co cut their target price on shares of Portland General Electric from $64.00 to $48.00 and set an equal weight rating for the company in a research report on Monday, April 27th. Guggenheim raised shares of Portland General Electric from a sell rating to a neutral rating and lifted their target price for the stock from $44.00 to $45.00 in a research report on Monday, April 27th. They noted that the move was a valuation call. TheStreet downgraded shares of Portland General Electric from a b- rating to a c+ rating in a research report on Monday, July 27th. Zacks Investment Research raised shares of Portland General Electric from a hold rating to a buy rating and set a $45.00 target price for the company in a research report on Tuesday, June 30th. Finally, Wolfe Research raised shares of Portland General Electric from an underperform rating to a peer perform rating and set a $43.00 price objective for the company in a research report on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $48.94.

NYSE POR traded down $0.18 during trading hours on Friday, hitting $44.13. 1,068,675 shares of the company were exchanged, compared to its average volume of 517,400. The stock has a 50-day moving average price of $42.97 and a 200 day moving average price of $49.52. The company has a quick ratio of 0.65, a current ratio of 0.80 and a debt-to-equity ratio of 0.99. Portland General Electric has a 52 week low of $37.83 and a 52 week high of $63.08. The stock has a market cap of $3.95 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 3.48 and a beta of 0.31.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, July 31st. The utilities provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The firm had revenue of $469.00 million for the quarter, compared to analysts’ expectations of $455.83 million. Portland General Electric had a return on equity of 8.59% and a net margin of 10.46%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, sell-side analysts anticipate that Portland General Electric will post 2.4 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be paid a dividend of $0.4075 per share. This is a boost from Portland General Electric’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.69%. Portland General Electric’s dividend payout ratio is currently 64.44%.

Portland General Electric Company Profile

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. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.

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