Portland General Electric (NYSE:POR) Receives $49.13 Average Price Target from Analysts

Shares of Portland General Electric (NYSE:POR) have been given an average recommendation of “Hold” by the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $49.13.

POR has been the topic of a number of recent analyst reports. KeyCorp cut their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Jefferies Financial Group started 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 objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Evercore ISI started 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 on the stock. Finally, Barclays decreased their price target on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th.

Hedge Funds Weigh In On Portland General Electric

A number of large investors have recently modified their holdings of POR. Allworth Financial LP grew 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 valued at $30,000 after buying an additional 265 shares during the period. First Pacific Financial raised its stake in Portland General Electric by 2.9% in the 3rd quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock valued at $591,000 after acquiring an additional 347 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in Portland General Electric by 20.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 413 shares during the last quarter. Blue Trust Inc. boosted its position in Portland General Electric by 94.5% during the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 451 shares during the period. Finally, Townsquare Capital LLC increased its stake in shares of Portland General Electric by 6.4% in the third quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock worth $364,000 after purchasing an additional 458 shares in the last quarter.

Portland General Electric Stock Down 0.1 %

NYSE:POR opened at $44.48 on Wednesday. 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 one year low of $39.13 and a one year high of $49.85. The firm’s 50 day simple moving average is $47.13 and its 200 day simple moving average is $46.26. The company has a market cap of $4.69 billion, a PE ratio of 13.28, a P/E/G ratio of 1.15 and a beta of 0.59.

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

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.50%. Portland General Electric’s dividend payout ratio is presently 59.70%.

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.