Brokerages Set Portland General Electric (NYSE:POR) Price Target at $47.00

Portland General Electric (NYSE:POR) has been given a consensus recommendation of “Hold” by the nine analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $47.00.

A number of brokerages have weighed in on POR. Jefferies Financial Group reduced their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Evercore ISI increased 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. Barclays boosted their price target on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Tuesday, February 18th. Finally, Bank of America decreased their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $43.73 on Friday. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.11 and a beta of 0.55. The business has a 50 day moving average price of $42.80 and a 200 day moving average price of $45.18. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 9.10% and a net margin of 9.13%. During the same period in the prior year, the business earned $0.67 earnings per share. Research 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.57%. Portland General Electric’s payout ratio is presently 66.45%.

Insider Activity at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the sale, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is owned by insiders.

Institutional Trading of Portland General Electric

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 valued at $519,651,000 after acquiring an additional 572,531 shares during the last quarter. State Street Corp increased its holdings in Portland General Electric by 1.6% during the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after purchasing an additional 66,438 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Portland General Electric by 19.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider’s stock valued at $172,720,000 after purchasing an additional 635,987 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Portland General Electric by 2.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider’s stock worth $145,403,000 after purchasing an additional 93,903 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Portland General Electric by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider’s stock worth $108,710,000 after purchasing an additional 47,172 shares in 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.