Analysts Set Portland General Electric (NYSE:POR) Price Target at $48.86

Portland General Electric (NYSE:POR) has earned an average recommendation of “Hold” from the eight research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $48.86.

Several equities research analysts have commented on POR shares. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Bank of America initiated 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. Barclays decreased their target price on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Finally, Evercore ISI assumed coverage on Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price on the stock.

Portland General Electric Trading Up 0.3 %

NYSE:POR opened at $46.78 on Friday. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The stock has a market capitalization of $4.93 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. The business’s 50-day simple moving average is $47.55 and its 200-day simple moving average is $45.96.

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 the consensus estimate 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 business had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $882.66 million. During the same quarter in the previous year, the business posted $0.46 EPS. Portland General Electric’s revenue for the quarter was up 15.8% on a year-over-year basis. Sell-side analysts expect that Portland General Electric will post 3.11 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 Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is presently 59.70%.

Insider Activity

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric 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 completion of 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 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Institutional Trading of Portland General Electric

Several institutional investors have recently added to or reduced their stakes in the business. Zimmer Partners LP lifted its stake in Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after acquiring an additional 952,214 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Portland General Electric during the second quarter valued at $31,557,000. Marshall Wace LLP lifted its position in Portland General Electric by 657.0% during the second 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 during the period. Systematic Financial Management LP increased its holdings in shares of Portland General Electric by 83.4% during the second quarter. Systematic Financial Management LP now owns 424,701 shares of the utilities provider’s stock valued at $18,364,000 after acquiring an additional 193,164 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Portland General Electric in the 2nd quarter worth about $7,459,000.

About Portland General Electric

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.