Brokerages Set Portland General Electric (NYSE:POR) Price Target at $49.13

Portland General Electric (NYSE:POR) has earned a consensus rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $49.13.

Several research firms have issued reports on POR. Barclays dropped their price objective on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Bank of America assumed coverage on shares of Portland General Electric in a report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Portland General Electric in a research note on Friday, September 20th. They set a “hold” rating and a $48.00 price objective on the stock. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, KeyCorp decreased their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th.

Institutional Investors Weigh In On Portland General Electric

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC increased its position in Portland General Electric by 477.9% in the second quarter. SG Americas Securities LLC now owns 40,420 shares of the utilities provider’s stock worth $1,748,000 after purchasing an additional 33,426 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Portland General Electric by 7.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,694 shares of the utilities provider’s stock worth $506,000 after buying an additional 784 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Portland General Electric by 6.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,313 shares of the utilities provider’s stock worth $446,000 after buying an additional 631 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Portland General Electric during the second quarter worth approximately $4,462,000. Finally, Blue Trust Inc. lifted its holdings in Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after buying an additional 451 shares during the period.

Portland General Electric Price Performance

Shares of Portland General Electric stock opened at $44.48 on Wednesday. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The firm has a market cap of $4.69 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 1.13 and a beta of 0.59. The firm’s 50-day simple moving average is $47.09 and its 200-day simple moving average is $46.31.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The company had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. During the same period in the previous year, the business earned $0.46 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, research analysts expect that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be given a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.50%. Portland General Electric’s payout ratio is 59.70%.

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.