Portland General Electric (NYSE:POR) Receives Average Rating of “Hold” from Brokerages

Portland General Electric (NYSE:POR) has earned a consensus recommendation of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $48.86.

A number of research firms have recently weighed in on POR. Barclays cut their price target on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Evercore ISI started coverage on Portland General Electric in a research note on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Bank of America began coverage on shares of Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective for the company.

Portland General Electric Stock Performance

POR stock opened at $47.57 on Friday. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.21 and a beta of 0.59. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The stock’s fifty day moving average is $47.47 and its two-hundred day moving average is $46.02.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS. On average, research analysts predict that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.20%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the transaction, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. This represents a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Portland General Electric

Hedge funds have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its position in shares of Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 514 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Portland General Electric in the third quarter worth about $25,000. LRI Investments LLC purchased a new position in shares of Portland General Electric in the first quarter worth approximately $26,000. Allworth Financial LP raised its holdings in shares of Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 265 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Portland General Electric in the 2nd quarter valued at approximately $33,000.

About Portland General Electric

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.