Portland General Electric (NYSE:POR) Announces Earnings Results, Misses Expectations By $0.06 EPS

Portland General Electric (NYSE:POR) issued its quarterly earnings results on Wednesday. The utilities provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.06), FiscalAI reports. Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. The firm had revenue of $971.00 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis.

Portland General Electric Price Performance

Shares of NYSE POR traded down $0.09 during midday trading on Thursday, reaching $44.18. The stock had a trading volume of 2,426,173 shares, compared to its average volume of 1,411,524. Portland General Electric has a 12-month low of $43.26 and a 12-month high of $54.62. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.98. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 2.69 and a beta of 0.49. The stock has a 50-day moving average of $46.71 and a 200-day moving average of $50.04.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 22nd will be issued a dividend of $0.5513 per share. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $2.21 annualized dividend and a yield of 5.0%. Portland General Electric’s payout ratio is currently 96.92%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on POR. Weiss Ratings cut shares of Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. UBS Group decreased their target price on shares of Portland General Electric from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, September 28th. KeyCorp restated a “sector weight” rating on shares of Portland General Electric in a research note on Thursday, September 24th. BTIG Research set a $57.00 price objective on shares of Portland General Electric in a report on Tuesday, October 20th. Finally, Zacks Research raised Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $50.50.

About Portland General Electric

Portland General Electric Company (NYSE:POR) is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers. The company also offers energy-management programs, renewable energy options and other services designed to support energy efficiency and electrification.

PGE serves communities throughout the state of Oregon, including the Portland metropolitan area and the Willamette Valley. Its operations include a diverse portfolio of power generation resources, transmission and distribution infrastructure, and programs supporting the integration of renewable energy and electric vehicles.

The company traces its history to the development of electric service in Oregon in the late 19th century.