Portland General Electric (NYSE:POR) Releases Earnings Results, Beats Estimates By $0.02 EPS
Portland General Electric (NYSE:POR) announced its quarterly earnings data on Friday, February 16th. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02, Morningstar.com reports. The company had revenue of $515.00 million during the quarter, compared to analyst estimates of $514.60 million. Portland General Electric had a net margin of 9.31% and a return on equity of 8.50%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. Portland General Electric updated its FY18 guidance to $2.10-2.25 EPS.
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. The firm has a market cap of $3,510.00, a PE ratio of 17.21, 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, March 26th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, March 23rd. Portland General Electric’s dividend payout ratio is currently 59.39%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its holdings in Portland General Electric by 4.2% in the second quarter. State Street Corp now owns 1,965,713 shares of the utilities provider’s stock valued at $89,810,000 after acquiring an additional 79,541 shares in the last quarter. Jackson Wealth Management LLC raised its holdings in Portland General Electric by 5.7% during the third quarter. Jackson Wealth Management LLC now owns 48,080 shares of the utilities provider’s stock worth $2,240,000 after purchasing an additional 2,577 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its holdings in Portland General Electric by 3.4% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 320,604 shares of the utilities provider’s stock worth $14,613,000 after purchasing an additional 10,396 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Portland General Electric during the third quarter worth approximately $286,000. Finally, Vident Investment Advisory LLC raised its holdings in Portland General Electric by 13.9% during the third quarter. Vident Investment Advisory LLC now owns 61,803 shares of the utilities provider’s stock worth $2,821,000 after purchasing an additional 7,562 shares in the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.
POR has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. dropped their target price on shares of Portland General Electric from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. UBS Group initiated coverage on shares of Portland General Electric in a report on Friday, February 2nd. They issued a “sell” rating and a $40.00 price objective on the stock. Guggenheim reissued a “hold” rating and set a $48.00 price target on shares of Portland General Electric in a report on Wednesday, January 3rd. Finally, Bank of America downgraded shares of Portland General Electric from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $41.00 to $39.00 in a report on Tuesday, March 6th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Portland General Electric has a consensus rating of “Hold” and an average target price of $42.61.
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About Portland General Electric
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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