Portland General Electric (NYSE:POR) Given New $47.00 Price Target at Barclays

Portland General Electric (NYSE:POR) had its target price boosted by Barclays from $42.00 to $47.00 in a research note published on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

Several other equities analysts also recently weighed in on POR. Jefferies Financial Group reduced 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. 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 report on Friday, January 3rd. Bank of America lowered their target price on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. LADENBURG THALM/SH SH downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Tuesday, February 18th. Finally, Evercore ISI boosted their price objective 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Portland General Electric currently has an average rating of “Hold” and a consensus target price of $47.00.

Portland General Electric Price Performance

Portland General Electric stock opened at $44.48 on Tuesday. The stock has a market capitalization of $4.86 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.11 and a beta of 0.61. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The firm’s 50-day moving average is $42.46 and its two-hundred day moving average is $45.49.

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

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.50%. Portland General Electric’s dividend payout ratio is currently 66.45%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the transaction, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Portland General Electric in the fourth quarter valued at about $62,004,000. Zimmer Partners LP boosted its stake in shares of Portland General Electric by 107.0% during the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after buying an additional 952,214 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Portland General Electric during the fourth quarter worth approximately $32,553,000. Fuller & Thaler Asset Management Inc. grew its position in shares of Portland General Electric by 19.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider’s stock worth $172,720,000 after buying an additional 635,987 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Portland General Electric by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock worth $519,651,000 after buying an additional 572,531 shares during the last quarter.

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.