Investment Analysts’ Recent Ratings Changes for Portland General Electric (POR)

Portland General Electric (NYSE: POR) has recently received a number of price target changes and ratings updates:

  • 9/7/2023 – Portland General Electric was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 8/23/2023 – Portland General Electric is now covered by analysts at Barclays PLC. They set an “equal weight” rating and a $43.00 price target on the stock.
  • 8/22/2023 – Portland General Electric is now covered by analysts at UBS Group AG. They set a “neutral” rating and a $46.00 price target on the stock.
  • 8/18/2023 – Portland General Electric was upgraded by analysts at Guggenheim from a “neutral” rating to a “buy” rating. They now have a $48.00 price target on the stock.
  • 8/17/2023 – Portland General Electric is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 8/2/2023 – Portland General Electric was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 7/25/2023 – Portland General Electric was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

Portland General Electric Trading Up 0.6 %

NYSE POR opened at $43.42 on Friday. The firm’s fifty day moving average price is $46.08 and its 200 day moving average price is $47.93. Portland General Electric has a 12 month low of $41.58 and a 12 month high of $53.12. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.89 and a quick ratio of 0.75. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 2.66 and a beta of 0.56.

Portland General Electric (NYSE:PORGet Free Report) last issued its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). The firm had revenue of $648.00 million for the quarter, compared to analysts’ expectations of $571.82 million. Portland General Electric had a return on equity of 8.03% and a net margin of 7.82%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 EPS. On average, sell-side analysts expect that Portland General Electric will post 2.67 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 25th will be issued a $0.475 dividend. The ex-dividend date is Friday, September 22nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.38%. Portland General Electric’s payout ratio is 79.17%.

Insider Activity at Portland General Electric

In other Portland General Electric news, VP Anne Frances Mersereau sold 10,891 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $44.16, for a total transaction of $480,946.56. Following the transaction, the vice president now directly owns 7,071 shares of the company’s stock, valued at approximately $312,255.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of POR. Alliancebernstein L.P. raised its holdings in Portland General Electric by 1,022.6% during the second quarter. Alliancebernstein L.P. now owns 3,105,863 shares of the utilities provider’s stock worth $145,448,000 after purchasing an additional 2,829,184 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. raised its stake in shares of Portland General Electric by 292.5% during the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,612,374 shares of the utilities provider’s stock worth $127,719,000 after buying an additional 1,946,766 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Portland General Electric by 86.9% during the second quarter. Goldman Sachs Group Inc. now owns 2,554,741 shares of the utilities provider’s stock worth $119,639,000 after acquiring an additional 1,187,890 shares during the period. Wellington Management Group LLP grew its holdings in Portland General Electric by 21.8% during the first quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider’s stock worth $334,647,000 after acquiring an additional 1,087,996 shares during the period. Finally, BlackRock Inc. raised its position in Portland General Electric by 8.4% in the second quarter. BlackRock Inc. now owns 12,672,161 shares of the utilities provider’s stock worth $593,437,000 after acquiring an additional 986,445 shares in the last quarter.

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, 2022, the company owned an electric transmission system consisting of 1,255 circuit miles, including 269 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 573 miles of 115 kilovolt line; and served 926 thousand retail customers in 51 cities.

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