Portland General Electric (NYSE:POR) Price Target Cut to $44.00 by Analysts at Wells Fargo & Company

Portland General Electric (NYSE:POR) had its price objective trimmed by Wells Fargo & Company from $46.00 to $44.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

POR has been the topic of several other research reports. Jefferies Financial Group decreased their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Evercore ISI increased their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Friday. UBS Group reiterated a “neutral” rating and set a $47.00 target price (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $44.00 price objective (down previously from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Portland General Electric has an average rating of “Hold” and a consensus price target of $45.40.

Portland General Electric Stock Up 0.1 %

Shares of POR opened at $41.41 on Monday. The company’s 50-day moving average price is $43.55 and its 200 day moving average price is $44.28. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market cap of $4.53 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The company had revenue of $928.00 million for the quarter, compared to analysts’ expectations of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. On average, sell-side analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 5.07%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. Portland General Electric’s payout ratio is 69.77%.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the sale, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the transaction, the executive vice president now directly owns 32,646 shares in the company, valued at $1,404,430.92. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,795 shares of company stock valued at $159,946. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new position in shares of Portland General Electric during the fourth quarter worth approximately $27,000. Private Trust Co. NA raised its holdings in shares of Portland General Electric by 62.6% in the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider’s stock valued at $28,000 after buying an additional 244 shares during the last quarter. Global X Japan Co. Ltd. boosted its stake in shares of Portland General Electric by 113.1% during the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider’s stock worth $29,000 after buying an additional 345 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Portland General Electric during the fourth quarter worth about $29,000. Finally, Versant Capital Management Inc increased its position in Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 450 shares during the period.

Portland General Electric Company Profile

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.