Portland General Electric (NYSE:POR) PT Raised to $48.00 at Barclays

Portland General Electric (NYSE:POR) had its price target increased by Barclays from $44.00 to $48.00 in a research report sent to investors on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

A number of other equities analysts also recently commented on POR. StockNews.com upgraded Portland General Electric from a sell rating to a hold rating in a report on Tuesday, April 30th. Mizuho raised their price target on shares of Portland General Electric from $42.00 to $45.00 and gave the company a neutral rating in a report on Thursday, May 16th. Finally, KeyCorp upgraded shares of Portland General Electric from a sector weight rating to an overweight rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $44.86.

Portland General Electric Trading Up 0.4 %

NYSE POR opened at $47.87 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $49.72. The firm’s fifty day simple moving average is $43.91 and its 200-day simple moving average is $42.45. The company has a market capitalization of $4.93 billion, a PE ratio of 18.34 and a beta of 0.58.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.12. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $828.94 million. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The business’s revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. As a group, sell-side analysts anticipate that Portland General Electric will post 3.08 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.18%. Portland General Electric’s payout ratio is presently 76.63%.

Insider Buying and Selling

In other Portland General Electric news, VP Brett Michael Sims sold 963 shares of Portland General Electric stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total value of $43,363.89. Following the transaction, the vice president now directly owns 13,996 shares of the company’s stock, valued at approximately $630,239.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Portland General Electric news, VP Brett Michael Sims sold 963 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total value of $43,363.89. Following the completion of the sale, the vice president now directly owns 13,996 shares of the company’s stock, valued at approximately $630,239.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the sale, the chief operating officer now owns 30,142 shares in the company, valued at $1,446,816. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,849 shares of company stock valued at $222,492. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its position in shares of Portland General Electric by 7.7% during the third quarter. Public Employees Retirement System of Ohio now owns 4,566 shares of the utilities provider’s stock valued at $185,000 after purchasing an additional 325 shares during the period. BKM Wealth Management LLC acquired a new position in shares of Portland General Electric in the 4th quarter valued at $33,000. Raymond James & Associates lifted its holdings in shares of Portland General Electric by 8.6% during the 4th quarter. Raymond James & Associates now owns 245,631 shares of the utilities provider’s stock worth $10,646,000 after acquiring an additional 19,394 shares during the period. Pacer Advisors Inc. boosted its position in shares of Portland General Electric by 149.3% during the 4th quarter. Pacer Advisors Inc. now owns 21,172 shares of the utilities provider’s stock valued at $918,000 after acquiring an additional 12,679 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Portland General Electric during the 4th quarter valued at about $3,644,000.

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.