Barclays Lowers Portland General Electric (NYSE:POR) to Equal Weight

Barclays lowered shares of Portland General Electric (NYSE:POR) from an overweight rating to an equal weight rating in a report issued on Wednesday morning, Marketbeat Ratings reports. They currently have $49.00 target price on the utilities provider’s stock, up from their previous target price of $48.00.

Other analysts have also issued research reports about the company. StockNews.com lowered Portland General Electric from a hold rating to a sell rating in a research report on Friday, September 6th. Bank of America initiated coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They issued an underperform rating and a $47.00 price target for the company. Finally, KeyCorp upgraded shares of Portland General Electric from a sector weight rating to an overweight rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Portland General Electric currently has a consensus rating of Hold and a consensus price target of $45.88.

Portland General Electric Stock Down 0.4 %

Shares of NYSE POR opened at $47.70 on Wednesday. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.38 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. Portland General Electric has a 52-week low of $38.01 and a 52-week high of $49.45. The business’s 50 day moving average is $47.37 and its two-hundred day moving average is $44.32.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $758.00 million for the quarter, compared to analyst estimates of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 earnings per share. Research analysts predict 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 Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. Portland General Electric’s dividend payout ratio (DPR) is 76.63%.

Insider Buying and Selling

In related news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the transaction, the vice president now owns 22,606 shares in the company, valued at $1,045,527.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the transaction, the vice president now owns 22,606 shares in the company, valued at $1,045,527.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s 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 transaction, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,486 shares of company stock worth $262,153. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Portland General Electric

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new stake in Portland General Electric in the second quarter valued at $399,000. Dana Investment Advisors Inc. lifted its position in Portland General Electric by 1.6% in the second quarter. Dana Investment Advisors Inc. now owns 120,518 shares of the utilities provider’s stock valued at $5,211,000 after acquiring an additional 1,883 shares during the last quarter. Cetera Investment Advisers lifted its position in Portland General Electric by 6.1% in the second quarter. Cetera Investment Advisers now owns 56,066 shares of the utilities provider’s stock valued at $2,424,000 after acquiring an additional 3,233 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Portland General Electric in the second quarter valued at $7,459,000. Finally, Quarry LP lifted its position in Portland General Electric by 962.3% in the second quarter. Quarry LP now owns 1,636 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 1,482 shares during the last quarter.

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.