Portland General Electric (NYSE:POR) Receives $44.00 Average PT from Brokerages

Portland General Electric (NYSE:POR) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $44.00.

A number of equities research analysts have weighed in on POR shares. Mizuho lifted their price target on shares of Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th.

Portland General Electric Stock Performance

Shares of NYSE POR opened at $42.70 on Wednesday. The company’s fifty day moving average price is $43.46 and its 200 day moving average price is $42.28. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $49.72. The company has a market capitalization of $4.40 billion, a PE ratio of 16.36 and a beta of 0.58. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.12. The business had revenue of $929.00 million for the quarter, compared to the consensus estimate of $828.94 million. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The company’s revenue was up 24.2% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. On average, research analysts predict that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.68%. Portland General Electric’s dividend payout ratio is 72.80%.

Insider Buying and Selling

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the transaction, the chief operating officer now directly owns 31,950 shares in the company, valued at approximately $1,297,170. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total value of $88,600.00. Following the completion of the sale, the senior vice president now owns 16,763 shares of the company’s stock, valued at $742,600.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Benjamin Felton sold 3,500 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the sale, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The disclosure for this sale can be found here. Insiders have sold 6,463 shares of company stock worth $274,064 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

Several large investors have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new stake in Portland General Electric in the fourth quarter valued at $25,000. LRI Investments LLC acquired a new position in shares of Portland General Electric during the first quarter valued at $26,000. Fifth Third Bancorp increased its holdings in shares of Portland General Electric by 181.8% during the fourth quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 409 shares during the period. BKM Wealth Management LLC acquired a new position in shares of Portland General Electric during the fourth quarter valued at $33,000. Finally, Mather Group LLC. acquired a new position in shares of Portland General Electric during the first quarter valued at $34,000.

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.