Portland General Electric (NYSE:POR) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Portland General Electric (NYSE:POR) from a hold rating to a sell rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Portland General Electric, headquartered in Portland, Ore., is a vertically integrated electric utility that serves residential, commercial and industrial customers in Oregon. The company has more than a century of experience in power delivery. PGE generates power from a diverse mix of resources, including hydropower, coal and natural gas. PGE also participates in the wholesale market by purchasing and selling electricity and natural gas to utilities and energy marketers. “

Separately, Mizuho set a $103.00 target price on Celgene and gave the stock a buy rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $47.67.



NYSE POR traded down $0.23 during mid-day trading on Wednesday, hitting $55.21. The stock had a trading volume of 856,900 shares, compared to its average volume of 541,677. The stock’s 50 day moving average is $54.44. Portland General Electric has a twelve month low of $42.97 and a twelve month high of $55.98. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.82 and a quick ratio of 0.70. The company has a market capitalization of $4.94 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 4.60 and a beta of 0.24.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, April 26th. The utilities provider reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.06. Portland General Electric had a return on equity of 8.84% and a net margin of 10.67%. The firm had revenue of $573.00 million during the quarter, compared to the consensus estimate of $520.05 million. During the same period in the prior year, the company earned $0.72 EPS. The firm’s revenue was up 16.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Portland General Electric will post 2.45 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 25th will be paid a $0.385 dividend. The ex-dividend date of this dividend is Monday, June 24th. This is an increase from Portland General Electric’s previous quarterly dividend of $0.36. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.79%. Portland General Electric’s dividend payout ratio (DPR) is 64.98%.

Several institutional investors and hedge funds have recently modified their holdings of POR. Norges Bank acquired a new stake in shares of Portland General Electric in the 4th quarter worth $55,862,000. Lord Abbett & CO. LLC acquired a new stake in shares of Portland General Electric in the 4th quarter worth $21,779,000. Principal Financial Group Inc. increased its stake in shares of Portland General Electric by 63.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,101,999 shares of the utilities provider’s stock worth $57,128,000 after acquiring an additional 427,754 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Portland General Electric by 92.7% in the 1st quarter. Acadian Asset Management LLC now owns 596,688 shares of the utilities provider’s stock worth $30,933,000 after acquiring an additional 287,013 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Portland General Electric by 46.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 677,542 shares of the utilities provider’s stock worth $31,065,000 after acquiring an additional 215,645 shares during the last quarter. 94.32% of the stock is owned by institutional investors and hedge funds.

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. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.

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