UBS Group Reaffirms Neutral Rating for Portland General Electric (NYSE:POR)

UBS Group restated their neutral rating on shares of Portland General Electric (NYSE:POR) in a report issued on Friday, MarketBeat reports. They currently have a $47.00 target price on the utilities provider’s stock, down from their previous target price of $52.00.

POR has been the subject of several other research reports. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays lowered their price objective on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Bank of America reduced their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. Finally, Jefferies Financial Group initiated coverage on Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.88.

Portland General Electric Trading Down 0.1 %

NYSE:POR opened at $43.15 on Friday. The stock has a fifty day simple moving average of $45.91 and a 200 day simple moving average of $46.31. 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 firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.13 and a beta of 0.59. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.85.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping 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 period last year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. Sell-side analysts forecast that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.63%. Portland General Electric’s dividend payout ratio is 59.70%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of POR. Y Intercept Hong Kong Ltd bought a new stake in shares of Portland General Electric during the 3rd quarter valued at $596,000. Franklin Resources Inc. increased its stake in shares of Portland General Electric by 114.1% during the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock worth $7,289,000 after purchasing an additional 81,701 shares during the last quarter. Qsemble Capital Management LP acquired a new position in shares of Portland General Electric during the 2nd quarter worth approximately $678,000. Choreo LLC acquired a new stake in shares of Portland General Electric during the 2nd quarter worth about $965,000. Finally, HighTower Advisors LLC lifted its holdings in Portland General Electric by 14.2% during the 3rd quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock worth $4,114,000 after purchasing an additional 10,643 shares during the last quarter.

About Portland General Electric

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.