Portland General Electric (NYSE:POR) issued its earnings results on Friday, February 16th. The utilities provider reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02, Morningstar.com reports. Portland General Electric had a net margin of 9.31% and a return on equity of 8.50%. The firm had revenue of $515.00 million during the quarter, compared to analyst estimates of $514.60 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. Portland General Electric’s revenue for the quarter was down 1.7% on a year-over-year basis. Portland General Electric updated its FY18 guidance to $2.10-2.25 EPS.
Portland General Electric (NYSE POR) opened at $39.41 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.04 and a debt-to-equity ratio of 1.00. The company has a market cap of $3,491.51, a PE ratio of 18.77, a price-to-earnings-growth ratio of 6.11 and a beta of 0.25. Portland General Electric has a 12-month low of $39.02 and a 12-month high of $50.11.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, March 26th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, March 23rd. Portland General Electric’s dividend payout ratio (DPR) is 64.76%.
Several equities analysts have commented on POR shares. Zacks Investment Research upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Portland General Electric from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. UBS Group started coverage on shares of Portland General Electric in a research report on Friday, February 2nd. They set a “sell” rating and a $40.00 price objective for the company. Guggenheim restated a “hold” rating and issued a $48.00 target price on shares of Portland General Electric in a report on Wednesday, January 3rd. Finally, Bank of America lowered shares of Portland General Electric from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $41.00 to $39.00 in a report on Tuesday, March 6th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $42.61.
In other Portland General Electric news, VP Bradley Young Jenkins sold 618 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.47, for a total transaction of $25,010.46. Following the transaction, the vice president now owns 896 shares of the company’s stock, valued at approximately $36,261.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.
Several large investors have recently added to or reduced their stakes in POR. OxFORD Asset Management LLP boosted its holdings in shares of Portland General Electric by 66.7% in the 2nd quarter. OxFORD Asset Management LLP now owns 11,754 shares of the utilities provider’s stock valued at $537,000 after buying an additional 4,704 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Portland General Electric in the 2nd quarter valued at about $141,000. State Street Corp boosted its holdings in shares of Portland General Electric by 4.2% in the 2nd quarter. State Street Corp now owns 1,965,713 shares of the utilities provider’s stock valued at $89,810,000 after buying an additional 79,541 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Portland General Electric by 16.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,739 shares of the utilities provider’s stock valued at $445,000 after buying an additional 1,348 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Portland General Electric by 3.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,856 shares of the utilities provider’s stock valued at $359,000 after buying an additional 293 shares in the last quarter. Institutional investors and hedge funds 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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