Portland General Electric (NYSE:POR) Coverage Initiated by Analysts at BMO Capital Markets

BMO Capital Markets began coverage on shares of Portland General Electric (NYSE:POR) in a report published on Tuesday, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $46.00 price objective on the utilities provider’s stock.

POR has been the topic of several other research reports. Evercore ISI dropped their price objective on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company cut their price target on Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and upped their price target for the stock from $47.00 to $50.00 in a research note on Monday, May 5th. Finally, LADENBURG THALM/SH SH downgraded Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.45.

Portland General Electric Stock Down 2.5%

Shares of NYSE:POR opened at $41.56 on Tuesday. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The firm has a market capitalization of $4.55 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.11 and a beta of 0.57. The stock has a 50 day moving average price of $43.12 and a 200-day moving average price of $43.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $928.00 million during the quarter, compared to analysts’ expectations of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. Portland General Electric’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 earnings per share. As a group, equities research analysts anticipate that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be given a $0.525 dividend. The ex-dividend date is Tuesday, June 24th. This is a boost from Portland General Electric’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 5.05%. Portland General Electric’s dividend payout ratio is 73.94%.

Insider Activity at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This represents a 4.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following the transaction, the executive vice president now directly owns 32,646 shares in the company, valued at $1,404,430.92. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,795 shares of company stock valued at $159,946. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Portland General Electric

Hedge funds and other institutional investors have recently modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of Portland General Electric during the 1st quarter valued at $27,000. True Wealth Design LLC bought a new position in Portland General Electric in the 4th quarter worth $27,000. Private Trust Co. NA raised its holdings in Portland General Electric by 62.6% in the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 244 shares during the period. Global X Japan Co. Ltd. raised its holdings in Portland General Electric by 113.1% in the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 345 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in Portland General Electric in the 4th quarter worth $29,000.

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.