Portland General Electric Company (NYSE:POR) – Analysts at Williams Capital lifted their Q3 2017 earnings estimates for shares of Portland General Electric in a research report issued on Monday. Williams Capital analyst C. Ellinghaus now expects that the utilities provider will post earnings of $0.34 per share for the quarter, up from their prior forecast of $0.30. Williams Capital has a “Sell” rating and a $41.00 price objective on the stock. Williams Capital also issued estimates for Portland General Electric’s Q4 2017 earnings at $0.67 EPS, FY2017 earnings at $2.25 EPS, Q1 2018 earnings at $0.76 EPS, Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.33 EPS, Q4 2018 earnings at $0.70 EPS, FY2018 earnings at $2.23 EPS and FY2019 earnings at $2.30 EPS.
POR has been the topic of a number of other reports. Barclays PLC reissued an “underweight” rating and issued a $44.00 price target (up from $41.00) on shares of Portland General Electric in a report on Sunday, April 23rd. BidaskClub raised Portland General Electric from a “sell” rating to a “hold” rating in a report on Monday. Zacks Investment Research raised Portland General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, UBS AG cut Portland General Electric from a “buy” rating to a “neutral” rating in a report on Tuesday, May 2nd. Four analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $43.40.
Shares of Portland General Electric (POR) opened at 45.32 on Tuesday. The company has a 50-day moving average of $46.19 and a 200-day moving average of $45.09. Portland General Electric has a 52 week low of $40.28 and a 52 week high of $48.06. The stock has a market capitalization of $4.04 billion, a P/E ratio of 19.70 and a beta of 0.30.
Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, April 28th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.82. Portland General Electric had a net margin of 10.43% and a return on equity of 8.78%. The firm had revenue of $530 million for the quarter, compared to the consensus estimate of $521.97 million. During the same period in the prior year, the firm posted $0.68 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of the company. Huntington National Bank increased its position in Portland General Electric by 1.2% in the second quarter. Huntington National Bank now owns 2,809 shares of the utilities provider’s stock worth $128,000 after buying an additional 34 shares during the last quarter. IFP Advisors Inc increased its position in Portland General Electric by 0.4% in the first quarter. IFP Advisors Inc now owns 2,811 shares of the utilities provider’s stock worth $125,000 after buying an additional 10 shares during the last quarter. Cable Hill Partners LLC increased its position in Portland General Electric by 0.4% in the first quarter. Cable Hill Partners LLC now owns 4,318 shares of the utilities provider’s stock worth $192,000 after buying an additional 17 shares during the last quarter. Becker Capital Management Inc. purchased a new position in Portland General Electric during the fourth quarter worth about $233,000. Finally, Regentatlantic Capital LLC increased its position in Portland General Electric by 5.9% in the first quarter. Regentatlantic Capital LLC now owns 5,580 shares of the utilities provider’s stock worth $248,000 after buying an additional 310 shares during the last quarter. 95.09% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider William O. Nicholson sold 6,000 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $45.10, for a total transaction of $270,600.00. Following the transaction, the insider now owns 16,313 shares of the company’s stock, valued at approximately $735,716.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Campbell A. Henderson sold 3,000 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $45.01, for a total value of $135,030.00. Following the transaction, the vice president now directly owns 20,424 shares in the company, valued at approximately $919,284.24. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, June 26th were given a dividend of $0.34 per share. This is an increase from Portland General Electric’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, June 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.00%. Portland General Electric’s dividend payout ratio is presently 59.13%.
Portland General Electric Company Profile
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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