Analysts Set Portland General Electric (NYSE:POR) PT at $44.86

Shares of Portland General Electric (NYSE:POR) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $44.86.

A number of research analysts recently issued reports on POR shares. Mizuho boosted their price target on Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Barclays boosted their price target on Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a report on Friday.

Portland General Electric Stock Down 0.9 %

Shares of NYSE:POR opened at $47.98 on Monday. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $49.26. The company has a market cap of $4.94 billion, a PE ratio of 18.38 and a beta of 0.59. 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 stock’s 50-day moving average is $46.24 and its 200 day moving average is $43.75.

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

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.17%. Portland General Electric’s dividend payout ratio (DPR) is 76.63%.

Insiders Place Their Bets

In other news, COO Benjamin Felton sold 1,886 shares of the business’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 value of $90,528.00. Following the sale, 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 is accessible through the SEC website. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the completion of the transaction, the chief operating officer now directly owns 30,142 shares in the company, valued at $1,446,816. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Institutional Trading of Portland General Electric

A number of institutional investors and hedge funds have recently modified their holdings of POR. Jump Financial LLC purchased a new stake in Portland General Electric in the fourth quarter worth approximately $1,788,000. Principal Financial Group Inc. lifted its holdings in shares of Portland General Electric by 5.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,966,720 shares of the utilities provider’s stock valued at $85,238,000 after buying an additional 100,496 shares during the period. Cullen Capital Management LLC purchased a new position in shares of Portland General Electric in the 4th quarter worth $1,089,000. Gabelli Funds LLC grew its holdings in shares of Portland General Electric by 3.8% in the first quarter. Gabelli Funds LLC now owns 297,049 shares of the utilities provider’s stock worth $12,476,000 after acquiring an additional 11,000 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of Portland General Electric in the fourth quarter worth $1,181,000.

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.