UBS Group Reaffirms “Neutral” Rating for Portland General Electric (NYSE:POR)

UBS Group reaffirmed their neutral rating on shares of Portland General Electric (NYSE:POR) in a research note issued to investors on Friday morning, Marketbeat.com reports. UBS Group currently has a $47.00 target price on the utilities provider’s stock, down from their prior target price of $52.00.

Other analysts also recently issued reports about the stock. Barclays reduced their target price on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Jefferies Financial Group initiated coverage on shares of Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price target on the stock. KeyCorp reduced their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Evercore ISI assumed coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. Finally, StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.88.

Portland General Electric Price Performance

Shares of NYSE POR opened at $43.15 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85. The company’s 50-day moving average is $45.91 and its 200 day moving average is $46.34. The stock has a market capitalization of $4.55 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.13 and a beta of 0.59.

Portland General Electric (NYSE:POR) last posted its earnings results 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. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. During the same quarter in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, sell-side analysts expect that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.63%. Portland General Electric’s payout ratio is 59.70%.

Institutional Investors Weigh In On Portland General Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its holdings in shares of Portland General Electric by 22.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 33,296 shares of the utilities provider’s stock valued at $1,440,000 after buying an additional 6,159 shares during the period. Rhumbline Advisers boosted its position in Portland General Electric by 2.9% in the second quarter. Rhumbline Advisers now owns 357,664 shares of the utilities provider’s stock worth $15,465,000 after purchasing an additional 10,030 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of Portland General Electric during the 2nd quarter valued at about $6,152,000. Victory Capital Management Inc. increased its position in shares of Portland General Electric by 6.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock valued at $46,561,000 after purchasing an additional 69,392 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Portland General Electric by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 28,337 shares of the utilities provider’s stock worth $1,225,000 after purchasing an additional 546 shares during the period.

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.