Portland General Electric (NYSE:POR) Sets New 1-Year High at $49.28

Shares of Portland General Electric (NYSE:POR) hit a new 52-week high during trading on Tuesday . The company traded as high as $49.28 and last traded at $49.24, with a volume of 33583 shares changing hands. The stock had previously closed at $49.09.

Wall Street Analyst Weigh In

POR has been the topic of several analyst reports. Bank of America initiated coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target on the stock. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Barclays lowered Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $48.00 to $49.00 in a report on Wednesday. Finally, StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.57.

Portland General Electric Price Performance

The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a 50 day simple moving average of $47.25 and a 200-day simple moving average of $44.25. The firm has a market cap of $4.93 billion, a PE ratio of 18.31 and a beta of 0.59.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating 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 company had revenue of $758.00 million for the quarter, compared to the consensus estimate of $716.43 million. During the same quarter last year, the company earned $0.44 EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts anticipate that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 dividend yield of 4.18%. Portland General Electric’s dividend payout ratio is 76.63%.

Insider Activity at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now owns 14,263 shares in the company, valued at approximately $688,902.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the sale, the chief operating officer now owns 30,142 shares in the company, valued at approximately $1,446,816. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,486 shares of company stock valued at $262,153. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Johnson Financial Group Inc. purchased a new stake in Portland General Electric during the fourth quarter valued at approximately $25,000. LRI Investments LLC purchased a new stake in Portland General Electric during the 1st quarter valued at $26,000. Massmutual Trust Co. FSB ADV raised its holdings in Portland General Electric by 767.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after buying an additional 514 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Portland General Electric during the second quarter worth $33,000. Finally, Mather Group LLC. bought a new position in Portland General Electric during the first quarter valued at $34,000.

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.