Brokerages Set Portland General Electric (NYSE:POR) Price Target at $48.88

Shares of Portland General Electric (NYSE:POR) have earned an average rating of “Hold” from the eight analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $48.88.

A number of equities research analysts have recently commented on POR shares. UBS Group restated a “neutral” rating and set a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Evercore ISI began coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Bank of America dropped their target price on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th.

Portland General Electric Price Performance

Shares of POR opened at $42.64 on Friday. The business’s 50-day moving average is $45.58 and its two-hundred day moving average is $46.34. The company has a market capitalization of $4.50 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.13 and a beta of 0.60. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. During the same period last year, the business earned $0.46 earnings per share. Portland General Electric’s quarterly revenue was up 15.8% on a year-over-year basis. Research analysts predict that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of POR. Commonwealth Equity Services LLC boosted its holdings in Portland General Electric by 22.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 33,296 shares of the utilities provider’s stock valued at $1,440,000 after purchasing an additional 6,159 shares during the last quarter. Rhumbline Advisers grew 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 acquiring an additional 10,030 shares during the period. National Bank of Canada FI acquired a new stake in Portland General Electric during the second quarter worth $6,152,000. Victory Capital Management Inc. raised its position in Portland General Electric by 6.9% in the second 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 period. 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 valued at $1,225,000 after purchasing an additional 546 shares during the last quarter.

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.