Portland General Electric Company (POR) Releases FY17 Earnings Guidance

Portland General Electric Company (NYSE:POR) issued an update on its FY17 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $2.20-2.35 for the period, compared to the Thomson Reuters consensus estimate of $2.24.

Portland General Electric Company (POR) opened at 47.67 on Friday. The company has a 50-day moving average of $46.25 and a 200-day moving average of $46.12. Portland General Electric Company has a 1-year low of $40.71 and a 1-year high of $48.22. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 21.28 and a beta of 0.28.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, October 27th. The utilities provider reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.06. Portland General Electric had a net margin of 10.06% and a return on equity of 8.48%. The firm had revenue of $515.00 million during the quarter, compared to the consensus estimate of $497.85 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts predict that Portland General Electric Company will post $2.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, December 26th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, December 22nd. Portland General Electric’s payout ratio is presently 59.13%.

POR has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Portland General Electric from a sell rating to a hold rating in a research note on Wednesday, July 5th. BidaskClub downgraded shares of Portland General Electric from a hold rating to a sell rating in a research report on Saturday, July 8th. Williams Capital downgraded shares of Portland General Electric from a hold rating to a sell rating and lowered their price objective for the stock from $44.00 to $41.00 in a research report on Monday, July 24th. KeyCorp reissued a hold rating on shares of Portland General Electric in a research report on Friday, September 1st. Finally, J P Morgan Chase & Co increased their price objective on shares of Portland General Electric from $46.00 to $47.00 and gave the stock a neutral rating in a research report on Thursday, October 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Portland General Electric presently has a consensus rating of Hold and an average price target of $45.80.

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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.

Earnings History and Estimates for Portland General Electric (NYSE:POR)

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