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

Portland General Electric (NYSE:POR) has been given an average recommendation of “Hold” by the nine analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $47.00.

Several equities research analysts have recently issued reports on POR shares. Evercore ISI lifted their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Barclays upped their price target on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Bank of America decreased their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. Jefferies Financial Group dropped their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Finally, KeyCorp reduced their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $43.83 on Friday. The business’s fifty day simple moving average is $42.96 and its 200 day simple moving average is $45.08. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The firm has a market capitalization of $4.80 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The company had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same period in the previous year, the firm earned $0.67 EPS. As a group, analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Monday, March 24th. Portland General Electric’s payout ratio is currently 66.45%.

Insider Activity

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. True Wealth Design LLC purchased a new position in shares of Portland General Electric during the fourth quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. purchased a new position in Portland General Electric during the 4th quarter valued at $29,000. Versant Capital Management Inc raised its holdings in 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 purchasing an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in Portland General Electric by 1,538.0% in 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 in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Portland General Electric in the 4th quarter worth about $52,000.

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.