Portland General Electric Company (NYSE:POR) posted its quarterly earnings data on Friday. The utilities provider reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.06, MarketWatch Earnings reports. The business had revenue of $515.00 million during the quarter, compared to analysts’ expectations of $497.85 million. Portland General Electric had a net margin of 10.06% and a return on equity of 8.48%. Portland General Electric’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. Portland General Electric updated its FY17 guidance to $2.20-2.35 EPS.
Portland General Electric (NYSE:POR) traded up 3.92% on Friday, hitting $47.67. 1,597,104 shares of the stock were exchanged. The firm has a market cap of $4.25 billion, a PE ratio of 21.28 and a beta of 0.28. The company has a 50-day moving average price of $46.25 and a 200-day moving average price of $46.12. Portland General Electric has a 52-week low of $40.71 and a 52-week high of $48.22.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, December 26th will be issued a $0.34 dividend. The ex-dividend date is Friday, December 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.85%. Portland General Electric’s dividend payout ratio (DPR) is currently 59.13%.
POR has been the subject of a number of research reports. Zacks Investment Research raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. J P Morgan Chase & Co increased their target price on shares of Portland General Electric from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. BidaskClub raised shares of Portland General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Williams Capital cut shares of Portland General Electric from a “hold” rating to a “sell” rating and dropped their target price for the stock from $44.00 to $41.00 in a report on Monday, July 24th. Finally, KeyCorp reissued a “hold” rating on shares of Portland General Electric in a report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $45.80.
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A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Portland General Electric by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 7,964,752 shares of the utilities provider’s stock worth $363,909,000 after buying an additional 200,707 shares during the last quarter. BlackRock Inc. lifted its position in Portland General Electric by 18.0% in the second quarter. BlackRock Inc. now owns 7,180,796 shares of the utilities provider’s stock valued at $328,091,000 after purchasing an additional 1,097,754 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Portland General Electric by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 4,705,994 shares of the utilities provider’s stock valued at $215,017,000 after purchasing an additional 43,692 shares during the last quarter. Boston Partners lifted its position in Portland General Electric by 2.9% in the second quarter. Boston Partners now owns 3,178,857 shares of the utilities provider’s stock valued at $145,241,000 after purchasing an additional 90,821 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Portland General Electric by 0.9% in the second quarter. Goldman Sachs Group Inc. now owns 2,573,684 shares of the utilities provider’s stock valued at $117,591,000 after purchasing an additional 23,695 shares during the last quarter. Institutional investors own 93.17% of the company’s stock.
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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