Portland General Electric (NYSE:POR) Given Consensus Rating of “Hold” by Analysts

Shares of Portland General Electric (NYSE:POR) have been given an average rating of “Hold” by the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $46.44.

A number of research analysts have issued reports on the stock. Evercore ISI boosted their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Bank of America reduced their price objective 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. Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday, February 18th. Finally, UBS Group reissued a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. True Wealth Design LLC purchased a new stake in Portland General Electric during the fourth quarter valued at about $27,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Portland General Electric in the 4th quarter valued at approximately $29,000. Allworth Financial LP boosted its stake in Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 265 shares during the period. Versant Capital Management Inc grew its position in Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 450 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 769 shares in the last quarter.

Portland General Electric Stock Up 1.3 %

NYSE:POR opened at $44.36 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a 50 day moving average of $42.39 and a 200-day moving average of $45.59. The firm has a market capitalization of $4.85 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.11 and a beta of 0.61. Portland General Electric has a 52 week low of $39.49 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the business earned $0.67 EPS. Analysts predict that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.51%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 66.45%.

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.