Brokerages Set Portland General Electric (NYSE:POR) Price Target at $48.86

Portland General Electric (NYSE:POR) has been given an average recommendation of “Hold” by the eight brokerages that are currently covering the stock, Marketbeat reports. One equities 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 twelve-month price objective among brokers that have covered the stock in the last year is $48.86.

POR has been the subject of several research reports. Bank of America initiated coverage on Portland General Electric in a report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective for the company. JPMorgan Chase & Co. raised their price target on 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 initiated coverage on Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target for the company. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Finally, StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th.

Portland General Electric Price Performance

POR opened at $46.78 on Friday. The stock’s 50-day moving average price is $47.55 and its 200 day moving average price is $45.96. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.85. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.19 and a beta of 0.59.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 EPS. As a group, sell-side analysts expect that Portland General Electric will post 3.11 earnings per share for the current 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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) is 59.70%.

Insider Buying and Selling

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the sale, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. The trade was a 14.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Portland General Electric

A number of hedge funds have recently bought and sold shares of the company. Zimmer Partners LP lifted its position in Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after purchasing an additional 952,214 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Portland General Electric in the second quarter valued at $31,557,000. Marshall Wace LLP increased its stake in shares of Portland General Electric by 657.0% in the second quarter. Marshall Wace LLP now owns 314,688 shares of the utilities provider’s stock valued at $13,607,000 after buying an additional 273,118 shares in the last quarter. Systematic Financial Management LP increased its stake in shares of Portland General Electric by 83.4% in the second quarter. Systematic Financial Management LP now owns 424,701 shares of the utilities provider’s stock valued at $18,364,000 after buying an additional 193,164 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Portland General Electric in the second quarter worth about $7,459,000.

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.