According to Zacks, “Portland General Electric, headquartered in Portland, Ore., is a vertically integrated electric utility that serves residential, commercial and industrial customers in Oregon. The company has more than a century of experience in power delivery. PGE generates power from a diverse mix of resources, including hydropower, coal and natural gas. PGE also participates in the wholesale market by purchasing and selling electricity and natural gas to utilities and energy marketers. “
POR has been the topic of a number of other reports. Guggenheim lowered Portland General Electric from a “neutral” rating to a “sell” rating in a research report on Tuesday, January 7th. Mizuho raised Portland General Electric from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $59.00 in a research report on Monday, October 7th. Sidoti assumed coverage on Portland General Electric in a report on Friday, September 27th. They issued a “neutral” rating and a $57.00 price objective for the company. ValuEngine lowered Portland General Electric from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Bank of America raised Portland General Electric from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Portland General Electric presently has an average rating of “Hold” and an average price target of $59.50.
NYSE POR opened at $58.81 on Tuesday. Portland General Electric has a 1-year low of $45.72 and a 1-year high of $58.89. The company has a market capitalization of $5.26 billion, a P/E ratio of 26.02, a PEG ratio of 4.65 and a beta of 0.11. The business has a 50 day moving average price of $55.92 and a 200 day moving average price of $55.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.81 and a quick ratio of 0.63.
Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.02. Portland General Electric had a return on equity of 7.95% and a net margin of 9.62%. The firm had revenue of $542.00 million during the quarter, compared to the consensus estimate of $532.94 million. During the same period last year, the business posted $0.59 EPS. Portland General Electric’s quarterly revenue was up 3.2% on a year-over-year basis. On average, research analysts expect that Portland General Electric will post 2.39 earnings per share for the current fiscal year.
In related news, VP William O. Nicholson sold 3,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $55.26, for a total value of $165,780.00. Following the completion of the sale, the vice president now directly owns 1,653 shares of the company’s stock, valued at $91,344.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of POR. Ladenburg Thalmann Financial Services Inc. grew its position in Portland General Electric by 3.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,047 shares of the utilities provider’s stock worth $327,000 after acquiring an additional 206 shares during the last quarter. Wakefield Asset Management LLLP raised its stake in Portland General Electric by 2.5% during the 3rd quarter. Wakefield Asset Management LLLP now owns 9,809 shares of the utilities provider’s stock worth $553,000 after buying an additional 243 shares during the period. Metropolitan Life Insurance Co NY raised its stake in Portland General Electric by 1.0% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 28,702 shares of the utilities provider’s stock worth $1,618,000 after buying an additional 280 shares during the period. Cable Hill Partners LLC raised its stake in Portland General Electric by 6.5% during the 3rd quarter. Cable Hill Partners LLC now owns 6,185 shares of the utilities provider’s stock worth $349,000 after buying an additional 375 shares during the period. Finally, Waddell & Reed Financial Inc. raised its stake in Portland General Electric by 0.4% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 113,109 shares of the utilities provider’s stock worth $6,127,000 after buying an additional 409 shares during the period. 93.40% of the stock is owned by institutional investors.
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. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.
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