Portland General Electric (NYSE:POR) Receives $49.13 Consensus PT from Brokerages

Shares of Portland General Electric (NYSE:POR) have earned a consensus recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $49.13.

A number of equities research analysts recently issued reports on the company. Bank of America began coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective on the stock. Evercore ISI started coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target on the stock. Jefferies Financial Group initiated coverage on Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price objective for the company. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd.

Portland General Electric Stock Down 0.1 %

Shares of NYSE POR opened at $44.48 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The company has a market cap of $4.69 billion, a P/E ratio of 13.28, a P/E/G ratio of 1.15 and a beta of 0.59. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The business has a 50-day simple moving average of $47.13 and a two-hundred day simple moving average of $46.26.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. Portland General Electric’s revenue for the quarter was up 15.8% on a year-over-year basis. Research analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.50%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is currently 59.70%.

Hedge Funds Weigh In On Portland General Electric

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Portland General Electric by 1.6% in the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock worth $199,509,000 after purchasing an additional 66,438 shares during the last quarter. Geode Capital Management LLC grew its holdings in Portland General Electric by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after acquiring an additional 25,332 shares during the last quarter. Zimmer Partners LP grew its holdings in Portland General Electric by 107.0% in the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after acquiring an additional 952,214 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Portland General Electric by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after acquiring an additional 86,718 shares during the period. Finally, HITE Hedge Asset Management LLC raised its stake in shares of Portland General Electric by 7.1% during the second quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock valued at $64,216,000 after acquiring an additional 97,922 shares during the last quarter.

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. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.