Portland General Electric (NYSE:POR) Issues Earnings Results, Misses Estimates By $0.23 EPS

Portland General Electric (NYSE:POR) issued its quarterly earnings data on Friday. The utilities provider reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.23), RTT News reports. The company had revenue of $460.00 million for the quarter, compared to the consensus estimate of $466.66 million. Portland General Electric had a return on equity of 8.84% and a net margin of 10.67%. Portland General Electric’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 earnings per share. Portland General Electric updated its FY 2019 guidance to $2.35-2.50 EPS and its FY19 guidance to $2.35-2.50 EPS.

POR stock traded down $1.00 during trading on Friday, reaching $54.40. 1,410,868 shares of the company’s stock were exchanged, compared to its average volume of 583,474. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. Portland General Electric has a 1-year low of $43.73 and a 1-year high of $55.98. The company has a fifty day simple moving average of $54.94. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 4.58 and a beta of 0.21.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 25th will be given a dividend of $0.385 per share. The ex-dividend date is Tuesday, September 24th. This represents a $1.54 dividend on an annualized basis and a yield of 2.83%. Portland General Electric’s dividend payout ratio (DPR) is presently 64.98%.

Hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new position in Portland General Electric during the 2nd quarter worth $27,000. Washington Trust Bank acquired a new stake in shares of Portland General Electric in the first quarter valued at $30,000. GWM Advisors LLC acquired a new stake in shares of Portland General Electric in the first quarter valued at $37,000. IMA Wealth Inc. acquired a new stake in shares of Portland General Electric in the second quarter valued at $43,000. Finally, Manchester Capital Management LLC acquired a new stake in shares of Portland General Electric in the first quarter valued at $54,000. Institutional investors own 94.31% of the company’s stock.

A number of research analysts have issued reports on POR shares. Mizuho lowered Portland General Electric from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $50.00 to $52.00 in a research report on Friday, April 5th. Zacks Investment Research upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $50.00.

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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Earnings History for Portland General Electric (NYSE:POR)

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