Portland General Electric Company (NYSE:POR) Receives $45.60 Average Target Price from Brokerages

Shares of Portland General Electric Company (NYSE:POR) have earned a consensus recommendation of “Hold” from the ten analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $45.60.

POR has been the topic of a number of research reports. KeyCorp downgraded shares of Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 target price on the stock. in a research note on Wednesday, May 14th. Wells Fargo & Company cut their price objective on Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. decreased their target price on Portland General Electric from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, May 19th. Barclays lowered their target price on Portland General Electric from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Finally, Wall Street Zen raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Friday, April 25th.

Portland General Electric Stock Performance

Shares of NYSE:POR opened at $41.27 on Friday. The business has a 50-day moving average of $41.52 and a two-hundred day moving average of $42.47. The firm has a market capitalization of $4.52 billion, a PE ratio of 14.53, a P/E/G ratio of 3.79 and a beta of 0.56. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.06 and a quick ratio of 0.94. Portland General Electric has a 12 month low of $39.55 and a 12 month high of $49.85.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The business had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a return on equity of 8.24% and a net margin of 8.84%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company posted $1.21 EPS. As a group, research analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Tuesday, June 24th. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.50. Portland General Electric’s dividend payout ratio (DPR) is 73.94%.

Insider Transactions at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the company’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the transaction, the executive vice president directly owned 32,646 shares of the company’s stock, valued at $1,404,430.92. This represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of Portland General Electric

A number of hedge funds have recently made changes to their positions in POR. Vanguard Group Inc. boosted its stake in Portland General Electric by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider’s stock valued at $556,266,000 after acquiring an additional 559,201 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Portland General Electric by 22.8% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider’s stock worth $216,950,000 after purchasing an additional 904,692 shares during the last quarter. ATLAS Infrastructure Partners UK Ltd. raised its stake in shares of Portland General Electric by 164.5% in the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,400,635 shares of the utilities provider’s stock valued at $196,268,000 after purchasing an additional 2,736,811 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Portland General Electric by 2.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider’s stock worth $145,403,000 after purchasing an additional 93,903 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Portland General Electric by 14.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,878,528 shares of the utilities provider’s stock worth $128,382,000 after purchasing an additional 366,640 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.