Portland General Electric (NYSE:POR) Receives Average Rating of “Moderate Buy” from Analysts

Portland General Electric (NYSE:POR) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $45.13.

Several research analysts recently commented on the stock. UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $47.00 to $45.00 in a report on Monday, January 29th. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $43.00 in a research report on Monday, February 5th. StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Barclays cut their target price on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. Finally, Mizuho reiterated a “neutral” rating and set a $42.00 price target (down from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th.

Portland General Electric Stock Up 1.3 %

Shares of NYSE POR opened at $43.37 on Tuesday. The business’s fifty day moving average price is $41.42 and its 200-day moving average price is $41.51. Portland General Electric has a one year low of $38.01 and a one year high of $51.58. The stock has a market capitalization of $4.39 billion, a PE ratio of 16.62 and a beta of 0.57. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.22 and a quick ratio of 1.09.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.10 by $0.11. The business had revenue of $929.00 million for the quarter, compared to the consensus estimate of $828.94 million. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The company’s revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. On average, equities research analysts anticipate that Portland General Electric will post 3.07 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Friday, June 21st. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s payout ratio is currently 72.80%.

Insider Transactions at Portland General Electric

In other news, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the sale, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Portland General Electric

A number of hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp lifted its holdings in Portland General Electric by 39.3% in the 1st quarter. Fifth Third Bancorp now owns 883 shares of the utilities provider’s stock worth $37,000 after buying an additional 249 shares during the period. Allworth Financial LP grew its stake in Portland General Electric by 44.0% in the third quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 261 shares during the period. Xponance Inc. raised its holdings in Portland General Electric by 2.0% in the fourth quarter. Xponance Inc. now owns 14,629 shares of the utilities provider’s stock worth $634,000 after purchasing an additional 282 shares in the last quarter. Strs Ohio lifted its position in Portland General Electric by 3.3% during the fourth quarter. Strs Ohio now owns 9,500 shares of the utilities provider’s stock valued at $411,000 after buying an additional 300 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in shares of Portland General Electric by 1.3% during the 1st quarter. New York State Teachers Retirement System now owns 24,061 shares of the utilities provider’s stock valued at $1,011,000 after buying an additional 300 shares in 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.