|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.0351 - 0.0570|
|52 Week Range||0.0050 - 0.2400|
|Beta (5Y Monthly)||0.91|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Portland General Electric reported better-than-expected fourth-quarter earnings. Additionally, the utility company's 2021 earnings outlook came in ahead of analysts’ estimates. Portland GE’s (POR) 4Q earnings of $0.57 per share dropped 16.2% year-over-year but beat the consensus estimates of $0.41 per share. The company's 2020 adjusted earnings rose 15.1% year-over-year to $2.75 per share and topped the Street’s estimates of $1.70 per share. Revenues of $2.15 billion exceeded the consensus estimates by $30 million in 2020 and grew 1% year-over-year, on the back of a recovery in energy demand. The company’s CEO Maria Pope said, “Improved technology helped reduce costs, as our team learned to overcome the challenges brought on by the pandemic.” Portland GE initiated 2021 guidance with earnings expected in the range of $2.55-$2.70 per share, which at the midpoint came in higher than analysts’ projections of $2.60 per share. The company maintained its long-term earnings growth target of 4%-6%. (See Portland GE stock analysis on TipRanks). Earlier on Jan. 12, KeyBanc analyst Sophie Karp upgraded Portland GE to Buy from Hold. In a note to investors, the analyst said that she believes that the stock is heavily discounted at current levels. Karp maintained a price target of $49 (17% upside potential) for the stock. Shares have dropped about 30.1% over the past year. Meanwhile, TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Portland GE is currently Very Positive as 4 hedge funds increased their cumulative holdings in POR by 665.5K shares in the last quarter. Related News:DTE Energy’s 4Q Earnings Outperform As Natural Gas Demand Picks UpFrontline 4Q Sales Sink 48% On Weak Oil Tanker DemandApplied Materials Posts Blowout Quarter; Shares Gain 5% More recent articles from Smarter Analyst: Kaleyra To Snap Up mGage For $215M; Street Sees 54% Upside Stifel Financial Buys North Atlantic Capital’s Future Venture Investment Business AG Mortgage Spikes 18% After 4Q Sales Crush Estimates Essent Group Misses 4Q Earnings Estimates; Street Stays Bullish
NEW YORK, NY / ACCESSWIRE / February 19, 2021 / Portland General Electric Co. (NYSE:POR) will be discussing their earnings results in their 2020 Fourth Quarter Earnings call to be held on February 19, 2021 at 11:00 AM Eastern Time.
Portland General Electric Company (NYSE: POR) today reported net income based on generally accepted accounting principles (GAAP) of $155 million, or $1.72 per diluted share, for the year ended December 31, 2020, which includes the $1.03 loss per diluted share from previously disclosed energy trading losses. After adjusting for the impact of the energy trading losses, non-GAAP net income was $247 million, or $2.75 per diluted share. This compares with GAAP net income of $214 million, or $2.39 per diluted share, for the year ended December 31, 2019. GAAP net income was $52 million, or $0.57 per diluted share, for the fourth quarter of 2020. This compares with GAAP net income of $61 million, or $0.68 per diluted share, for the fourth quarter of 2019.