Brokerages Set Portland General Electric (NYSE:POR) PT at $47.29

Portland General Electric (NYSE:POR) has received an average recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $48.25.

POR has been the subject of several research reports. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Evercore ISI assumed 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. upped their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. 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 on the stock.

Portland General Electric Stock Down 0.4 %

Shares of NYSE:POR opened at $48.82 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. The firm has a market cap of $5.03 billion, a P/E ratio of 16.78, a P/E/G ratio of 1.37 and a beta of 0.59. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.45. The company’s 50-day moving average price is $47.76 and its two-hundred day moving average price is $45.37.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, beating 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 business had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $716.43 million. During the same period in the prior year, the firm earned $0.44 earnings per share. Portland General Electric’s revenue was up 17.0% compared to the same quarter last year. As a group, research analysts forecast that Portland General Electric will post 3.09 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.10%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s payout ratio is presently 68.73%.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the transaction, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction dated 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 directly owns 14,263 shares of the company’s stock, valued at $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

A number of large investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its position in Portland General Electric by 767.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after buying an additional 514 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Portland General Electric in the 3rd quarter valued at approximately $25,000. LRI Investments LLC bought a new position in shares of Portland General Electric in the first quarter valued at $26,000. Allworth Financial LP raised its position in Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 265 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Portland General Electric in the second quarter valued at $33,000.

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.