Portland General Electric (NYSE:POR) Price Target Raised to $49.00

Portland General Electric (NYSE:POR) had its price target raised by JPMorgan Chase & Co. from $47.00 to $49.00 in a research note published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the utilities provider’s stock.

POR has been the topic of a number of other research reports. BTIG Research raised Portland General Electric to a “strong-buy” rating in a report on Wednesday, October 22nd. Jefferies Financial Group upped their price target on Portland General Electric from $43.00 to $46.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Portland General Electric in a research note on Monday, December 8th. LADENBURG THALM/SH SH reaffirmed a “sell” rating and issued a $43.00 target price on shares of Portland General Electric in a report on Thursday, December 4th. Finally, Zacks Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and an average target price of $47.33.

Portland General Electric Price Performance

Shares of NYSE POR opened at $48.11 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.95 and a debt-to-equity ratio of 1.25. The stock has a market cap of $5.41 billion, a P/E ratio of 17.49, a P/E/G ratio of 4.42 and a beta of 0.67. The stock has a 50 day moving average of $47.32 and a two-hundred day moving average of $43.72. Portland General Electric has a twelve month low of $39.54 and a twelve month high of $51.14.

Portland General Electric (NYSE:POR) last announced its earnings results on Thursday, October 30th. The utilities provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $952.00 million for the quarter, compared to analysts’ expectations of $975.64 million. Portland General Electric had a net margin of 8.63% and a return on equity of 8.32%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. On average, research 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 announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, December 22nd. Portland General Electric’s payout ratio is 76.36%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of POR. IFP Advisors Inc boosted its position in Portland General Electric by 1,291.7% during the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 620 shares during the period. Root Financial Partners LLC purchased a new stake in Portland General Electric in the 3rd quarter worth approximately $27,000. Johnson Financial Group Inc. purchased a new position in shares of Portland General Electric during the 3rd quarter valued at $27,000. S.A. Mason LLC acquired a new position in shares of Portland General Electric in the second quarter worth $29,000. Finally, Bell Investment Advisors Inc boosted its position in Portland General Electric by 80.6% during the second quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 370 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.