Analysts Set Portland General Electric (NYSE:POR) PT at $46.78

Portland General Electric (NYSE:POR) has been given a consensus rating of “Hold” by the nine research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $46.78.

A number of analysts recently issued reports on POR shares. Jefferies Financial Group initiated coverage on shares of Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 target price for the company. Barclays downgraded Portland General Electric from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $48.00 to $49.00 in a research report on Wednesday, September 18th. Bank of America assumed coverage on Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target on the stock. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Finally, StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th.

Portland General Electric Stock Up 1.1 %

POR stock opened at $48.09 on Friday. Portland General Electric has a one year low of $38.01 and a one year high of $49.45. The stock has a market capitalization of $4.95 billion, a P/E ratio of 18.43, a PEG ratio of 1.33 and a beta of 0.59. The company has a 50 day moving average price of $47.52 and a two-hundred day moving average price of $44.57. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, July 26th. The utilities provider reported $0.69 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 firm had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts expect that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.16%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio (DPR) is 76.63%.

Insider Activity

In related 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 value of $120,750.00. Following the completion of the transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 owns 14,263 shares of the company’s stock, valued at $688,902.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,486 shares of company stock valued at $262,153. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in POR. Cullen Capital Management LLC bought a new position in Portland General Electric during the fourth quarter valued at about $1,089,000. Gabelli Funds LLC grew its holdings in shares of Portland General Electric by 3.8% in the 1st quarter. Gabelli Funds LLC now owns 297,049 shares of the utilities provider’s stock worth $12,476,000 after acquiring an additional 11,000 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Portland General Electric during the fourth quarter worth $1,181,000. Jane Street Group LLC lifted its holdings in shares of Portland General Electric by 274.5% during the first quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider’s stock valued at $8,303,000 after purchasing an additional 144,900 shares during the last quarter. Finally, Edgestream Partners L.P. increased its stake in Portland General Electric by 299.1% in the 1st quarter. Edgestream Partners L.P. now owns 102,993 shares of the utilities provider’s stock worth $4,326,000 after purchasing an additional 77,185 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.