JPMorgan Chase & Co. Reaffirms “Neutral” Rating for Portland General Electric (NYSE:POR)

JPMorgan Chase & Co. restated their neutral rating on shares of Portland General Electric (NYSE:POR) in a research report released on Thursday, MarketBeat reports. JPMorgan Chase & Co. currently has a $44.00 price target on the utilities provider’s stock, down from their previous price target of $50.00.

Several other research analysts have also commented on the company. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 18th. StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. Jefferies Financial Group reduced their price target on shares of 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. Bank of America lowered their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. Finally, Evercore ISI upped their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.78.

Portland General Electric Trading Down 1.4 %

Shares of Portland General Electric stock opened at $41.68 on Thursday. 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 company has a fifty day simple moving average of $43.32 and a 200-day simple moving average of $44.65. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.11 and a beta of 0.49. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $716.17 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. On average, equities analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Monday, March 24th. Portland General Electric’s payout ratio is 66.45%.

Insider Buying and Selling

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Portland General Electric

Hedge funds have recently modified their holdings of the business. True Wealth Design LLC purchased a new position in Portland General Electric in the fourth quarter worth $27,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Portland General Electric during the 4th quarter worth $29,000. Versant Capital Management Inc increased its holdings in shares of Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 769 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Portland General Electric in the fourth quarter valued at 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.