Portland General Electric (NYSE:POR) Hits New 12-Month High at $48.62

Shares of Portland General Electric (NYSE:POR) hit a new 52-week high during trading on Friday . The stock traded as high as $48.62 and last traded at $48.03, with a volume of 1142619 shares traded. The stock had previously closed at $47.95.

Analysts Set New Price Targets

Several brokerages have issued reports on POR. StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a research note on Monday. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Mizuho upped their price target on shares of Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Finally, Barclays lifted their price objective on shares of Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and a consensus price target of $44.86.

Portland General Electric Price Performance

The firm has a market capitalization of $4.95 billion, a PE ratio of 18.36 and a beta of 0.58. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. The business’s 50 day moving average is $44.17 and its two-hundred day moving average is $42.59.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The company had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, research analysts anticipate that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s payout ratio is 76.63%.

Insider Transactions at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Portland General Electric news, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the transaction, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Angelica Espinosa sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total transaction of $88,600.00. Following the completion of the transaction, the senior vice president now owns 16,763 shares of the company’s stock, valued at $742,600.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,849 shares of company stock worth $222,492. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates lifted its holdings in shares of Portland General Electric by 8.6% during the fourth quarter. Raymond James & Associates now owns 245,631 shares of the utilities provider’s stock valued at $10,646,000 after purchasing an additional 19,394 shares during the last quarter. Pacer Advisors Inc. grew its position in 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 purchasing an additional 12,679 shares during the last quarter. Fifth Third Bancorp raised its holdings in Portland General Electric by 181.8% in the fourth quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock worth $27,000 after buying an additional 409 shares during the last quarter. Arizona State Retirement System lifted its position in Portland General Electric by 2.7% in the 4th quarter. Arizona State Retirement System now owns 28,260 shares of the utilities provider’s stock valued at $1,225,000 after acquiring an additional 749 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Portland General Electric by 4,233.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,820 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 1,778 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.