Portland General Electric (NYSE:POR) Given Average Rating of “Hold” by Brokerages

Shares of Portland General Electric (NYSE:POR) have earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $47.00.

POR has been the topic of several research reports. KeyCorp reduced their price target on shares of 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. LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Tuesday, February 18th. Jefferies Financial Group dropped their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. 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 research report on Tuesday, December 24th. Finally, Evercore ISI raised their price objective on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th.

Insider Transactions at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in POR. True Wealth Design LLC bought a new position in Portland General Electric in the fourth quarter worth approximately $27,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Portland General Electric in the 4th quarter valued at $29,000. Versant Capital Management Inc raised its position in shares of Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 769 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Portland General Electric during the fourth quarter valued at about $52,000.

Portland General Electric Trading Down 1.8 %

Portland General Electric stock opened at $42.62 on Friday. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The firm’s 50 day moving average price is $42.89 and its 200-day moving average price is $45.11. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The stock has a market cap of $4.67 billion, a P/E ratio of 14.16, a PEG ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $824.00 million during the quarter, compared to analyst estimates 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 quarter last year, the business posted $0.67 earnings per share. On average, equities analysts predict that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid 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 yield of 4.69%. Portland General Electric’s payout ratio is 66.45%.

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.