Portland General Electric (NYSE:POR) announced its quarterly earnings results on Friday, February 16th. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02, Morningstar.com reports. The firm had revenue of $515.00 million for the quarter, compared to analysts’ expectations of $514.60 million. Portland General Electric had a net margin of 9.31% and a return on equity of 8.50%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. Portland General Electric updated its FY18 guidance to $2.10-2.25 EPS.
Shares of Portland General Electric (POR) opened at $39.41 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.04 and a current ratio of 1.22. Portland General Electric has a one year low of $39.02 and a one year high of $50.11. The firm has a market cap of $3,491.51, a P/E ratio of 18.77, a P/E/G ratio of 6.11 and a beta of 0.25.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, March 26th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, March 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.45%. Portland General Electric’s payout ratio is 64.76%.
Several research analysts have recently weighed in on POR shares. Mizuho began coverage on shares of Portland General Electric in a research report on Wednesday, February 14th. They set a “buy” rating and a $43.50 price target on the stock. Guggenheim reaffirmed a “hold” rating and issued a $48.00 target price on shares of Portland General Electric in a research report on Wednesday, January 3rd. Zacks Investment Research raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. Wells Fargo & Co set a $42.00 price target on shares of Portland General Electric and gave the stock a “hold” rating in a research note on Tuesday, February 13th. Finally, Gabelli reiterated a “hold” rating on shares of Portland General Electric in a research note on Tuesday, February 20th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Portland General Electric presently has a consensus rating of “Hold” and an average price target of $42.61.
In other Portland General Electric news, VP Bradley Young Jenkins sold 618 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $40.47, for a total value of $25,010.46. Following the transaction, the vice president now directly owns 896 shares in the company, valued at $36,261.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Cerebellum GP LLC acquired a new stake in shares of Portland General Electric in the fourth quarter valued at approximately $122,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Portland General Electric in the second quarter valued at approximately $141,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of Portland General Electric in the fourth quarter valued at approximately $161,000. Mark Sheptoff Financial Planning LLC boosted its holdings in shares of Portland General Electric by 121.2% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 3,650 shares of the utilities provider’s stock valued at $167,000 after acquiring an additional 2,000 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Portland General Electric in the third quarter valued at approximately $201,000. Institutional investors own 92.88% of the company’s stock.
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Portland General Electric Company Profile
Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.
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