News Recap: Portland General Electric Company (NYSE:POR)

Portland General Electric Company (NYSE:POR) stock identified change of 22.68% away from 52-week low price and recently located move of -26.43% off 52-week high price. It has market worth of $4.15B and dividend yield of 3.32%. POR stock has been recorded -11.37% away from 50 day moving average and -16.18% away from 200 day moving average. Moving closer, we can see that shares have been trading -5.87% off 20-day moving average.

On April 24, 2020, Portland General Electric Company (NYSE:POR) released net income of $81 million, or 91 cents per diluted share, for the first quarter of 2020. This compares with net income of $73 million, or 82 cents per diluted share, for the first quarter of 2019.

Our financial performance this quarter largely reflects conditions experienced prior to the COVID-19 pandemic, said Maria Pope, PGE president and CEO. PGE is committed to serving the needs of our customers and our community during this time. Given the deteriorating economic outlook, the company is revising full-year earnings guidance to $2.20 to $2.50 per diluted share. This guidance includes a decrease in annual retail deliveries of 1 to 2%, weather-adjusted, and reflects management actions to reduce operating and maintenance and capital spending. Our forecasts of long-term earnings growth remain at 4 to 6%.

First quarter 2020 earnings compared to first quarter 2019 earnings

Total revenues showed no change as increases in retail revenues and wholesale revenues were offset by a decrease in other operating revenues. Lower purchased power and fuel expense resulted from a lower power cost per MWh, primarily due to strong wind production. In addition, lower operating expenses were driven by reduced plant maintenance expense, which was partially offset by increased distribution expense. Earnings were also impacted by a decline in the market value of the non-qualified benefit trust and higher depreciation and amortization as the result of capital additions.

The Utilities sector company, Portland General Electric Company noticed change of -4.17% to $46.41 along volume of 1433680 shares in recent session compared to an average volume of 871.74K. The stock observed return of -8.68% in 5 days trading activity. The stock was at 6.30% over one month performance. POR’s shares are at -23.10% for the quarter and driving a -9.85% return over the course of the past year and is now at -16.81% since this point in 2018.

The average volatility for the week at 4.32% and for month was at 5.41%. There are 89.37M shares outstanding and 89.08M shares are floated in market. Right now the stock beta is 0.43.

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