Analysts Set Portland General Electric (NYSE:POR) Price Target at $44.86

Portland General Electric (NYSE:POR) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $44.86.

A number of brokerages recently weighed in on POR. Mizuho boosted 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 cut Portland General Electric from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Finally, Barclays increased their price objective on Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, July 22nd.

Portland General Electric Stock Up 0.8 %

Shares of NYSE POR opened at $48.88 on Monday. The business has a 50-day moving average of $46.01 and a two-hundred day moving average of $43.68. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 18.66 and a beta of 0.59. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $48.94. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The firm had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $716.43 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. On average, analysts forecast that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.09%. Portland General Electric’s payout ratio is currently 76.63%.

Insider Activity at Portland General Electric

In related news, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the sale, the vice president now directly owns 22,606 shares in the company, valued at $1,045,527.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Portland General Electric news, COO Benjamin Felton sold 1,886 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the completion of the transaction, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at $1,446,816. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the sale, the vice president now directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Portland General Electric

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Portland General Electric by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock valued at $483,069,000 after buying an additional 212,981 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Portland General Electric by 29.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock valued at $196,089,000 after acquiring an additional 1,017,503 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Portland General Electric by 6.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,758,995 shares of the utilities provider’s stock worth $119,575,000 after acquiring an additional 161,432 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Portland General Electric by 5.4% in the fourth quarter. Principal Financial Group Inc. now owns 1,966,720 shares of the utilities provider’s stock valued at $85,238,000 after purchasing an additional 100,496 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Portland General Electric by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after purchasing an additional 86,718 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.