Analysts Set Portland General Electric (NYSE:POR) PT at $47.29

Shares of Portland General Electric (NYSE:POR) have earned an average recommendation of “Hold” from the nine brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $48.25.

A number of equities research analysts have recently issued reports on the stock. Evercore ISI initiated coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Jefferies Financial Group began coverage on 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 boosted their price target for the company from $48.00 to $49.00 in a research note on Wednesday, September 18th. Finally, KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd.

Portland General Electric Stock Down 0.4 %

POR stock opened at $48.82 on Tuesday. The business’s 50 day simple moving average is $47.76 and its 200 day simple moving average is $45.37. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.45. The firm has a market capitalization of $5.03 billion, a PE ratio of 16.78, a PEG ratio of 1.37 and a beta of 0.59. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

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

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s payout ratio is currently 68.73%.

Insider Buying and Selling

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction 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 sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Portland General Electric

Institutional investors have recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Portland General Electric during the 2nd quarter valued at $31,557,000. Marshall Wace LLP increased its position in Portland General Electric by 657.0% in the 2nd quarter. Marshall Wace LLP now owns 314,688 shares of the utilities provider’s stock valued at $13,607,000 after buying an additional 273,118 shares in the last quarter. Vanguard Group Inc. raised its stake in Portland General Electric by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock worth $483,069,000 after buying an additional 212,981 shares during the period. Systematic Financial Management LP boosted its holdings in Portland General Electric by 83.4% in the second quarter. Systematic Financial Management LP now owns 424,701 shares of the utilities provider’s stock worth $18,364,000 after acquiring an additional 193,164 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Portland General Electric in the second quarter valued at approximately $7,459,000.

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.