Portland General Electric (NYSE:POR) Updates FY 2019 Earnings Guidance

Portland General Electric (NYSE:POR) updated its FY 2019 earnings guidance on Friday. The company provided earnings per share guidance of $2.35-2.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.45. Portland General Electric also updated its FY19 guidance to $2.35-2.50 EPS.

Separately, Zacks Investment Research raised shares of Portland General Electric from a sell rating to a hold rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $50.00.

Shares of POR stock traded down $1.00 during midday trading on Friday, hitting $54.40. 1,410,868 shares of the company were exchanged, compared to its average volume of 607,502. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 4.63 and a beta of 0.21. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average price of $54.94. Portland General Electric has a 52 week low of $43.73 and a 52 week high of $55.98.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.23). The business had revenue of $460.00 million during the quarter, compared to the consensus estimate of $466.66 million. Portland General Electric had a net margin of 10.67% and a return on equity of 8.84%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. As a group, equities research analysts predict that Portland General Electric will post 2.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 25th will be issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is currently 64.98%.

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.

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