Portland General Electric (NYSE:POR) Receives Consensus Rating of “Hold” from Brokerages

Portland General Electric (NYSE:POR) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $48.86.

Several equities analysts have recently commented on the stock. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Bank of America began coverage on Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective for the company. Barclays dropped their price target on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Evercore ISI assumed coverage on Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price objective on the stock.

Portland General Electric Trading Up 1.7 %

Shares of POR stock opened at $46.66 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The stock has a fifty day simple moving average of $47.57 and a two-hundred day simple moving average of $45.91. The firm has a market capitalization of $4.92 billion, a PE ratio of 13.93, a PEG ratio of 1.18 and a beta of 0.59. Portland General Electric has a 52-week low of $39.13 and a 52-week high of $49.85.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. During the same quarter last year, the business posted $0.46 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. On average, analysts predict that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s payout ratio is 59.70%.

Insider Transactions at Portland General Electric

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares in the company, valued at approximately $688,902.90. This trade represents a 14.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

Institutional Trading of Portland General Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Portland General Electric by 1.6% during the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after buying an additional 66,438 shares during the last quarter. Zimmer Partners LP boosted its holdings in Portland General Electric by 107.0% during the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after acquiring an additional 952,214 shares during the period. Dimensional Fund Advisors LP grew its position in Portland General Electric by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after acquiring an additional 86,718 shares during the last quarter. HITE Hedge Asset Management LLC increased its stake in Portland General Electric by 7.1% in the second quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock worth $64,216,000 after purchasing an additional 97,922 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Portland General Electric by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock worth $61,219,000 after purchasing an additional 13,720 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.