Analysts Set Portland General Electric Company (NYSE:POR) Price Target at $51.00

Shares of Portland General Electric Company (NYSE:POR) have been given a consensus recommendation of “Hold” by the ten ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $51.00.

A number of research firms have recently weighed in on POR. JPMorgan Chase & Co. raised their price objective on Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Wells Fargo & Company set a $51.00 price target on Portland General Electric in a research report on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research report on Friday, May 15th.

Portland General Electric Stock Down 0.1%

Portland General Electric stock opened at $50.14 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.95. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 2.10 and a beta of 0.52. Portland General Electric has a 1-year low of $39.54 and a 1-year high of $54.62. The business has a fifty day moving average price of $50.31 and a 200-day moving average price of $50.58.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). The business had revenue of $879.00 million during the quarter, compared to analyst estimates of $953.24 million. Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. Equities research analysts forecast that Portland General Electric will post 3.39 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th will be given a dividend of $0.5513 per share. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $2.21 dividend on an annualized basis and a yield of 4.4%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.53. Portland General Electric’s payout ratio is presently 98.21%.

Insiders Place Their Bets

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 7,500 shares of Portland General Electric stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.03, for a total transaction of $367,725.00. Following the completion of the sale, the chief financial officer owned 31,897 shares of the company’s stock, valued at approximately $1,563,909.91. The trade was a 19.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert N. Hoglund purchased 2,000 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $48.80 per share, with a total value of $97,600.00. Following the transaction, the director owned 2,519 shares in the company, valued at $122,927.20. This trade represents a 385.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.52% of the stock is currently owned by insiders.

Institutional Trading of Portland General Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in POR. Pacer Advisors Inc. raised its stake in shares of Portland General Electric by 23.9% during the 1st quarter. Pacer Advisors Inc. now owns 16,583 shares of the utilities provider’s stock valued at $875,000 after buying an additional 3,197 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Portland General Electric by 14.8% during the 1st quarter. Parallel Advisors LLC now owns 5,673 shares of the utilities provider’s stock valued at $299,000 after buying an additional 730 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of Portland General Electric by 5.1% during the 1st quarter. Segall Bryant & Hamill LLC now owns 118,094 shares of the utilities provider’s stock valued at $6,232,000 after buying an additional 5,780 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Portland General Electric by 60.6% during the 1st quarter. Bank of America Corp DE now owns 1,660,446 shares of the utilities provider’s stock valued at $87,622,000 after buying an additional 626,223 shares during the last quarter. Finally, Edgestream Partners L.P. raised its stake in shares of Portland General Electric by 126.7% during the 1st quarter. Edgestream Partners L.P. now owns 269,147 shares of the utilities provider’s stock valued at $14,203,000 after buying an additional 150,449 shares during the last quarter.

About Portland General Electric

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.