Portland General Electric (NYSE:POR) updated its FY20 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $2.50-2.65 for the period, compared to the Thomson Reuters consensus estimate of $2.56. Portland General Electric also updated its FY 2020
Pre-Market guidance to 2.50-2.65 EPS.
Shares of NYSE POR traded down $0.54 during mid-day trading on Friday, reaching $61.80. The company had a trading volume of 1,422,313 shares. The firm has a 50 day simple moving average of $58.56 and a two-hundred day simple moving average of $56.62. Portland General Electric has a 52-week low of $48.34 and a 52-week high of $62.64.
Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $548.00 million during the quarter, compared to analysts’ expectations of $537.30 million. During the same period last year, the firm earned $0.55 earnings per share. Portland General Electric’s revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Portland General Electric will post 2.59 earnings per share for the current year.
Several analysts have recently weighed in on the company. Guggenheim downgraded Portland General Electric from a neutral rating to a sell rating in a report on Tuesday, January 7th. KeyCorp assumed coverage on Portland General Electric in a research note on Monday, January 27th. They set a sector weight rating on the stock. Sidoti lifted their price target on Portland General Electric from $57.00 to $61.00 and gave the stock a neutral rating in a research report on Thursday, January 23rd. Bank of America raised Portland General Electric from a neutral rating to a buy rating and set a $60.00 price target on the stock in a research report on Tuesday, January 7th. Finally, Zacks Investment Research cut Portland General Electric from a buy rating to a hold rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $60.50.
In related news, VP William O. Nicholson sold 3,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $55.26, for a total transaction of $165,780.00. Following the completion of the sale, the vice president now owns 1,653 shares in the company, valued at approximately $91,344.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate insiders.
Portland General Electric Company Profile
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.
Featured Story: Stocks at 52 Week High
Receive News & Ratings for Portland General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portland General Electric and related companies with MarketBeat.com's FREE daily email newsletter.