Portland General Electric (NYSE:POR) Receives $48.88 Average Target Price from Brokerages

Shares of Portland General Electric (NYSE:POR) have been given an average recommendation of “Hold” by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $48.88.

Several brokerages have recently commented on POR. Evercore ISI assumed 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. Bank of America reduced their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. Jefferies Financial Group began coverage on shares of Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 target price on the stock. JPMorgan Chase & Co. upped their price target 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, October 23rd. Finally, UBS Group reiterated a “neutral” rating and set a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd.

Institutional Investors Weigh In On Portland General Electric

Several large investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in Portland General Electric by 22.7% during the second quarter. Commonwealth Equity Services LLC now owns 33,296 shares of the utilities provider’s stock worth $1,440,000 after buying an additional 6,159 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Portland General Electric by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 357,664 shares of the utilities provider’s stock valued at $15,465,000 after acquiring an additional 10,030 shares in the last quarter. National Bank of Canada FI acquired a new stake in Portland General Electric in the 2nd quarter worth approximately $6,152,000. Victory Capital Management Inc. boosted its position in Portland General Electric by 6.9% during the second quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock worth $46,561,000 after purchasing an additional 69,392 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Portland General Electric by 2.0% in the second quarter. Arizona State Retirement System now owns 28,337 shares of the utilities provider’s stock valued at $1,225,000 after purchasing an additional 546 shares during the period.

Portland General Electric Price Performance

Shares of NYSE POR opened at $42.53 on Friday. 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 50-day moving average of $45.78 and a two-hundred day moving average of $46.37. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.13 and a beta of 0.60.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same quarter in the previous year, the business posted $0.46 earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, analysts expect that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a dividend of $0.50 per share. 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 4.70%. Portland General Electric’s payout ratio is 59.70%.

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.