Portland General Electric (NYSE:POR) Given New $51.00 Price Target at Evercore ISI

Portland General Electric (NYSE:POR) had its price objective hoisted by Evercore ISI from $50.00 to $51.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the utilities provider’s stock.

A number of other research analysts have also recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Tuesday. Bank of America dropped their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. JPMorgan Chase & Co. boosted their price objective on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, KeyCorp lowered their price objective on 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.44.

Portland General Electric Price Performance

POR opened at $42.82 on Tuesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $42.50 and its 200 day simple moving average is $45.68. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.05 and a beta of 0.61. Portland General Electric has a 1 year low of $39.49 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. During the same period last year, the company posted $0.67 EPS. As a group, analysts predict that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.67%. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Hedge Funds Weigh In On Portland General Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in POR. Y Intercept Hong Kong Ltd purchased a new position in shares of Portland General Electric in the 3rd quarter valued at about $596,000. Nordea Investment Management AB increased its stake in Portland General Electric by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock valued at $43,058,000 after purchasing an additional 19,057 shares in the last quarter. Franklin Resources Inc. raised its holdings in Portland General Electric by 114.1% during the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock worth $7,289,000 after purchasing an additional 81,701 shares during the last quarter. Synergy Asset Management LLC boosted its position in Portland General Electric by 260.6% during the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock worth $5,096,000 after purchasing an additional 82,743 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in Portland General Electric by 14.2% in the third quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock valued at $4,114,000 after purchasing an additional 10,643 shares during 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.