Portland General Electric (NYSE:POR) Receives $47.00 Average Target Price from Analysts

Shares of Portland General Electric (NYSE:POR) have been given an average rating of “Hold” by the nine research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $47.00.

POR has been the subject of several recent research reports. KeyCorp dropped their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Bank of America dropped their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. UBS Group restated a “neutral” rating and issued a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Jefferies Financial Group lowered their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Finally, Barclays upped their target price on shares of Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $43.73 on Friday. The firm has a 50 day simple moving average of $42.80 and a 200 day simple moving average of $45.18. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The firm has a market cap of $4.79 billion, a P/E ratio of 14.53, a P/E/G ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. During the same period last year, the firm earned $0.67 EPS. Sell-side analysts predict that Portland General Electric will post 3.21 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 Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.57%. Portland General Electric’s dividend payout ratio (DPR) is presently 66.45%.

Insider Transactions at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

Several institutional investors and hedge funds have recently modified their holdings of POR. True Wealth Design LLC acquired a new stake in Portland General Electric during the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric during the fourth quarter worth $29,000. Versant Capital Management Inc raised its holdings in shares of Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 450 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of Portland General Electric by 1,538.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 769 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in Portland General Electric in the 4th quarter valued at $52,000.

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.