FY2017 EPS Estimates for Portland General Electric Company Increased by Williams Capital (POR)

Portland General Electric Company (NYSE:POR) – Equities researchers at Williams Capital raised their FY2017 earnings per share estimates for Portland General Electric in a report issued on Tuesday. Williams Capital analyst C. Ellinghaus now anticipates that the utilities provider will post earnings of $2.23 per share for the year, up from their prior estimate of $2.21. Williams Capital currently has a “Sell” rating and a $41.00 target price on the stock. Williams Capital also issued estimates for Portland General Electric’s Q4 2017 earnings at $0.66 EPS and Q2 2018 earnings at $0.42 EPS.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.08). Portland General Electric had a net margin of 10.06% and a return on equity of 8.48%. The firm had revenue of $449.00 million for the quarter, compared to the consensus estimate of $465.70 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis.

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Several other brokerages also recently issued reports on POR. KeyCorp restated a “hold” rating on shares of Portland General Electric in a research report on Friday, September 1st. BidaskClub upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Thursday. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $42.00.

Portland General Electric (POR) opened at 46.30 on Thursday. The company’s 50-day moving average price is $46.70 and its 200 day moving average price is $45.86. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 20.67 and a beta of 0.29. Portland General Electric has a 52 week low of $40.28 and a 52 week high of $48.22.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in POR. BlackRock Inc. raised its position in shares of Portland General Electric by 9,433.7% in the first quarter. BlackRock Inc. now owns 6,083,042 shares of the utilities provider’s stock valued at $270,207,000 after buying an additional 6,019,236 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Portland General Electric by 23.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,549,989 shares of the utilities provider’s stock valued at $113,270,000 after buying an additional 489,314 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Portland General Electric by 3.4% in the first quarter. Vanguard Group Inc. now owns 7,764,045 shares of the utilities provider’s stock valued at $344,879,000 after buying an additional 256,914 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Portland General Electric by 27.4% in the first quarter. Renaissance Technologies LLC now owns 1,155,300 shares of the utilities provider’s stock valued at $51,318,000 after buying an additional 248,300 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Portland General Electric by 8.4% in the first quarter. Alliancebernstein L.P. now owns 3,182,938 shares of the utilities provider’s stock valued at $141,386,000 after buying an additional 247,232 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 25th will be given a $0.34 dividend. The ex-dividend date of this dividend is Friday, September 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.94%. Portland General Electric’s payout ratio is 60.71%.

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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