Portland General Electric’s (POR) “Neutral” Rating Reaffirmed at UBS Group

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

A number of other analysts also recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Evercore ISI started coverage on Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price for the company. KeyCorp decreased their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. 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 analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $48.88.

Portland General Electric Stock Down 0.1 %

Portland General Electric stock opened at $43.15 on Friday. 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 has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The stock has a 50-day simple moving average of $45.91 and a 200-day simple moving average of $46.31. The company has a market capitalization of $4.55 billion, a P/E ratio of 12.88, a PEG ratio of 1.13 and a beta of 0.59.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping 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 firm had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. During the same period last year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities research 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 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. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.63%. Portland General Electric’s payout ratio is currently 59.70%.

Institutional Trading of Portland General Electric

A number of large investors have recently modified their holdings of the company. Allworth Financial LP increased its stake in shares of Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 265 shares during the period. First Pacific Financial raised its stake in shares of Portland General Electric by 2.9% during the third quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock valued at $591,000 after purchasing an additional 347 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of 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 in the last quarter. Versant Capital Management Inc grew its position in Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after buying an additional 450 shares in the last quarter. Finally, Townsquare Capital LLC raised its position in shares of Portland General Electric by 6.4% during the 3rd quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock worth $364,000 after buying an additional 458 shares in the last quarter.

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.