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

Portland General Electric Company (NYSE:POR) has been assigned a consensus rating of “Hold” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $46.9167.

POR has been the topic of a number of recent research reports. UBS Group reiterated a “neutral” rating and issued a $51.00 target price on shares of Portland General Electric in a research report on Wednesday, November 19th. Wells Fargo & Company started coverage on shares of Portland General Electric in a research report on Monday, October 27th. They set an “equal weight” rating and a $45.00 price target on the stock. Mizuho set a $47.00 target price on Portland General Electric in a research report on Monday, November 3rd. Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Finally, BTIG Research raised shares of Portland General Electric to a “strong-buy” rating in a report on Wednesday, October 22nd.

Portland General Electric Stock Up 1.1%

POR stock opened at $50.33 on Wednesday. The stock has a market capitalization of $5.66 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 4.18 and a beta of 0.67. Portland General Electric has a 52 week low of $39.54 and a 52 week high of $50.95. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28. The firm has a 50 day moving average of $45.75 and a 200 day moving average of $43.08.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The business had revenue of $952.00 million during the quarter, compared to analysts’ expectations of $975.64 million. During the same quarter last year, the company posted $0.90 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, December 22nd. Portland General Electric’s payout ratio is 76.36%.

Insider Buying and Selling

In other Portland General Electric news, CEO Maria M. Pope sold 18,896 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total value of $803,080.00. Following the sale, the chief executive officer directly owned 194,135 shares in the company, valued at $8,250,737.50. This trade represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Portland General Electric

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC boosted its stake in Portland General Electric by 38.8% in the second quarter. Campbell & CO Investment Adviser LLC now owns 44,777 shares of the utilities provider’s stock valued at $1,819,000 after acquiring an additional 12,518 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Portland General Electric during the second quarter worth about $376,000. Eastern Bank purchased a new stake in shares of Portland General Electric in the 2nd quarter valued at about $65,000. Intech Investment Management LLC boosted its position in shares of Portland General Electric by 20.9% in the 2nd quarter. Intech Investment Management LLC now owns 66,348 shares of the utilities provider’s stock valued at $2,696,000 after purchasing an additional 11,478 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Portland General Electric by 5.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 513,398 shares of the utilities provider’s stock worth $20,859,000 after buying an additional 26,753 shares during the last quarter.

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.