Portland General Electric (POR) Receives $45.20 Consensus Target Price from Brokerages

Portland General Electric (NYSE:POR) has been given an average recommendation of “Hold” by the ten ratings firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $45.20.

POR has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, October 4th. Guggenheim reiterated a “hold” rating and set a $48.00 target price on shares of Portland General Electric in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. increased their target price on shares of Portland General Electric from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Finally, Bank of America initiated coverage on shares of Portland General Electric in a research report on Tuesday, October 24th. They set a “neutral” rating and a $45.00 target price for the company.

A number of large investors have recently modified their holdings of POR. Neuberger Berman Group LLC boosted its position in Portland General Electric by 7.1% during the second quarter. Neuberger Berman Group LLC now owns 7,078 shares of the utilities provider’s stock worth $323,000 after purchasing an additional 471 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Portland General Electric by 52.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,906 shares of the utilities provider’s stock worth $178,000 after buying an additional 1,352 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Portland General Electric by 7.3% in the second quarter. Wells Fargo & Company MN now owns 355,940 shares of the utilities provider’s stock worth $16,263,000 after buying an additional 24,297 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of Portland General Electric by 5.6% in the second quarter. Teachers Advisors LLC now owns 159,618 shares of the utilities provider’s stock worth $7,293,000 after buying an additional 8,440 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of Portland General Electric by 2.1% in the second quarter. TIAA CREF Investment Management LLC now owns 242,019 shares of the utilities provider’s stock worth $11,058,000 after buying an additional 4,887 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Portland General Electric (POR) traded down $0.07 on Tuesday, reaching $42.40. 628,549 shares of the company traded hands, compared to its average volume of 600,722. The company has a market capitalization of $3,777.50, a price-to-earnings ratio of 18.43, a P/E/G ratio of 4.87 and a beta of 0.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.95. Portland General Electric has a one year low of $42.25 and a one year high of $50.11.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, October 27th. The utilities provider reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.06. The company had revenue of $515.00 million during the quarter, compared to analyst estimates of $497.85 million. Portland General Electric had a net margin of 10.21% and a return on equity of 8.65%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. equities analysts predict that Portland General Electric will post 2.26 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, December 26th were given a dividend of $0.34 per share. The ex-dividend date was Friday, December 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 3.21%. Portland General Electric’s dividend payout ratio is presently 59.13%.

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About Portland General Electric

Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.

Analyst Recommendations for Portland General Electric (NYSE:POR)

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