Portland General Electric (NYSE:POR) Price Target Raised to $51.00

Portland General Electric (NYSE:POR) had its target price hoisted by Evercore ISI from $50.00 to $51.00 in a research note published on Tuesday,Benzinga reports. They currently have an outperform rating on the utilities provider’s stock.

POR has been the subject of several other research reports. Barclays cut their price target on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. UBS Group restated a “neutral” rating and set a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. KeyCorp lowered their price target on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Jefferies Financial Group cut their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Finally, LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.44.

Portland General Electric Trading Up 1.1 %

Shares of Portland General Electric stock opened at $43.80 on Tuesday. The company has a 50-day moving average of $42.39 and a two-hundred day moving average of $45.61. Portland General Electric has a 12-month low of $39.49 and a 12-month high of $49.85. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market cap of $4.79 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.09 and a beta of 0.61.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same period last year, the business posted $0.67 EPS. On average, research analysts anticipate that Portland General Electric will post 3.2 EPS for the current fiscal 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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is 66.45%.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the 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 completion of the sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Portland General Electric

A number of institutional investors have recently added to or reduced their stakes in POR. V Square Quantitative Management LLC purchased a new position in Portland General Electric in the third quarter valued at about $25,000. True Wealth Design LLC acquired a new position in Portland General Electric during the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. acquired a new position in Portland General Electric during the 4th quarter worth approximately $29,000. Allworth Financial LP boosted its holdings in Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 265 shares during the period. Finally, Versant Capital Management Inc grew its position in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 450 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.