Portland General Electric (NYSE:POR) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Portland General Electric (NYSE:POR) released its earnings results on Thursday. The utilities provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01), FiscalAI reports. Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The business had revenue of $814.00 million for the quarter, compared to analysts’ expectations of $839.75 million. During the same quarter last year, the company posted $0.66 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year.

Portland General Electric Stock Down 1.3%

POR traded down $0.66 during trading hours on Friday, reaching $49.44. 1,208,257 shares of the stock traded hands, compared to its average volume of 1,259,382. Portland General Electric has a fifty-two week low of $40.81 and a fifty-two week high of $54.62. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 2.17 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.95. The firm’s fifty day simple moving average is $51.19 and its two-hundred day simple moving average is $51.34.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be issued a dividend of $0.5513 per share. This represents a $2.21 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, September 25th. Portland General Electric’s dividend payout ratio (DPR) is presently 98.21%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Portland General Electric in a report on Friday, May 15th. Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a research report on Tuesday, April 21st. BMO Capital Markets cut their price target on shares of Portland General Electric from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Finally, Zacks Research downgraded shares of Portland General Electric from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $50.90.

Insiders Place Their Bets

In other news, Director Michael A. Lewis sold 1,537 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $51.83, for a total transaction of $79,662.71. Following the completion of the sale, the director owned 15,045 shares of the company’s stock, valued at approximately $779,782.35. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Juan Diego Gallegos sold 2,750 shares of Portland General Electric stock in a transaction on Friday, May 8th. The stock was sold at an average price of $48.67, for a total transaction of $133,842.50. Following the completion of the sale, the vice president owned 12,127 shares of the company’s stock, valued at approximately $590,221.09. This trade represents a 18.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 11,787 shares of company stock worth $581,230. 0.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Dean Investment Associates LLC bought a new stake in Portland General Electric in the fourth quarter valued at about $5,589,000. California State Teachers Retirement System raised its stake in Portland General Electric by 0.4% during the second quarter. California State Teachers Retirement System now owns 101,342 shares of the utilities provider’s stock valued at $4,118,000 after buying an additional 361 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Portland General Electric by 15.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,547 shares of the utilities provider’s stock valued at $2,907,000 after buying an additional 9,598 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Portland General Electric by 1.4% during the 4th quarter. Cetera Investment Advisers now owns 45,224 shares of the utilities provider’s stock worth $2,170,000 after buying an additional 620 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Portland General Electric by 5.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 41,629 shares of the utilities provider’s stock worth $1,998,000 after buying an additional 2,229 shares during the last quarter.

Portland General Electric Company Profile

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.