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Reasons to Buy Portland General Electric (POR) Stock Now

Portland General Electric Company POR has been benefiting from the focus on delivering safe, clean and reliable energy to customers. Portland General Electric continues to benefit from strong energy delivery and customer growth.

Let us focus on the factors that make this Zacks Rank #2 (Buy) stock a strong investment pick. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Estimate Revision

The Zacks Consensus Estimate for Portland General Electric’s 2022 and 2023 earnings per share is pegged at $2.82 and $2.94, respectively. Earnings estimates for 2022 and 2023 reflect growth of 9.7% and 2.4%, respectively, in the past 60 days.

The Zacks Consensus Estimate for Portland General Electric’s 2022 and 2023 revenues reflects year-over-year growth of 5.5% and 4.3%, respectively.

Capital Investment Plan

For 2022-2026, the company expects to make investments of $3,355 million. The investment will be aimed at updating and replacing aging generation, transmission and distribution equipment. Portland General Electric’s objective is to build a smarter and resilient grid, which will assist it in providing reliable customer service.

Earnings Surprise & Long-Term Earnings Growth

Portland General Electric reported a positive earnings surprise in the last quarter. POR’s systematic capital spending will further strengthen and expand its infrastructure, boosting its performance and earnings.

Portland General Electric’s long-term (three to five years) earnings growth is pegged at 9.7%.

Dividend

Portland General Electric’s long-term dividend growth target is 5-7%, subject to the approval of its board of directors.

POR’s current annual dividend is $1.81. Its dividend yield is 3.55%, better than the industry yield of 3.06%.

Price Movement

In the past three months, the stock has gained 10% compared with the industry’s growth of 5.9%.

 

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

 

Other Stocks to Consider

Some other top-ranked stocks in the same sector are Alliant Energy LNT, CenterPoint Energy CNP and Primo Water Corporation PRMW, each carrying a Zacks Rank #2 at present.

Alliant Energy, CenterPoint Energy and Primo Water delivered average earnings surprises of 5.8%, 9.6%, and 6.9%, respectively, in the last four quarters.

The Zacks Consensus Estimate for 2022 earnings per share of Alliant Energy, CenterPoint Energy and Primo Water has moved up 1.8%, 0.7%, and 13.1%, respectively, in the past 60 days.


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CenterPoint Energy, Inc. (CNP) : Free Stock Analysis Report
 
Portland General Electric Company (POR) : Free Stock Analysis Report
 
Alliant Energy Corporation (LNT) : Free Stock Analysis Report
 
Primo Water Corporation (PRMW) : Free Stock Analysis Report
 
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