Portland General Electric (NYSE:POR) Given Average Rating of “Hold” by Analysts

Portland General Electric (NYSE:POR) has been assigned an average recommendation of “Hold” from the eight brokerages that are covering the stock, Marketbeat reports. One investment 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 12 month target price among brokerages that have issued ratings on the stock in the last year is $48.86.

POR has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America began coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective on the stock. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Evercore ISI initiated coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target on the stock. Finally, Barclays decreased their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th.

Insider Transactions at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the transaction, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. This trade represents a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its holdings in Portland General Electric by 1.6% in the 3rd 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 period. Zimmer Partners LP raised its stake in shares of Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after buying an additional 952,214 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Portland General Electric by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after buying an additional 86,718 shares in the last quarter. HITE Hedge Asset Management LLC lifted its position in shares of Portland General Electric by 7.1% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock valued at $64,216,000 after buying an additional 97,922 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Portland General Electric by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock worth $61,219,000 after acquiring an additional 13,720 shares in the last quarter.

Portland General Electric Stock Up 1.7 %

Shares of Portland General Electric stock opened at $46.66 on Friday. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.18 and a beta of 0.59. The company has a 50-day moving average of $47.57 and a 200 day moving average of $45.91. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. During the same quarter last year, the firm earned $0.46 earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.29%. Portland General Electric’s payout ratio is 59.70%.

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.