Portland General Electric (NYSE:POR) – Equities researchers at Williams Capital dropped their FY2020 earnings per share (EPS) estimates for Portland General Electric in a research report issued on Monday, May 20th, Zacks Investment Research reports. Williams Capital analyst C. Ellinghaus now expects that the utilities provider will post earnings of $2.50 per share for the year, down from their previous forecast of $2.54. Williams Capital also issued estimates for Portland General Electric’s FY2021 earnings at $2.68 EPS.
Portland General Electric (NYSE:POR) last released its earnings results on Friday, April 26th. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.06. The company had revenue of $573.00 million for the quarter, compared to the consensus estimate of $520.05 million. Portland General Electric had a net margin of 10.67% and a return on equity of 8.84%. Portland General Electric’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS.
POR has been the topic of several other reports. Mizuho reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Portland General Electric in a report on Thursday, February 14th. Zacks Investment Research downgraded shares of Portland General Electric from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $47.67.
NYSE:POR traded up $0.21 during trading hours on Tuesday, hitting $55.28. 538,560 shares of the company were exchanged, compared to its average volume of 548,527. The company has a market cap of $4.84 billion, a PE ratio of 23.32, a P/E/G ratio of 4.52 and a beta of 0.24. Portland General Electric has a 52-week low of $40.49 and a 52-week high of $55.70. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.
Several hedge funds have recently added to or reduced their stakes in POR. Washington Trust Bank acquired a new position in shares of Portland General Electric in the 1st quarter valued at $30,000. Manchester Capital Management LLC acquired a new position in shares of Portland General Electric in the 1st quarter valued at $54,000. Marshall Wace North America L.P. acquired a new position in shares of Portland General Electric in the 1st quarter valued at $57,000. CWM LLC lifted its stake in shares of Portland General Electric by 5,680.0% in the 4th quarter. CWM LLC now owns 1,156 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 1,136 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Portland General Electric in the 1st quarter valued at $73,000. 94.42% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 25th will be issued a $0.385 dividend. This is an increase from Portland General Electric’s previous quarterly dividend of $0.36. This represents a $1.54 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Monday, June 24th. Portland General Electric’s dividend payout ratio is 61.18%.
About Portland General Electric
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.