Portland General Electric Company (POR) - What Are Brokerages Thinking About This Stock?

Key Points

• Analyst sentiment is mostly neutral: Seven of 10 covering firms rate Portland General Electric “Hold,” while three recommend “Buy”; the average 12-month price target is $51.56.
• Quarterly results fell short of estimates: EPS was $1.06 versus $1.11 expected, and revenue was $971 million versus $1.02 billion expected, though revenue rose 2% year over year.
• The company declared a quarterly dividend of $0.5513 per share, equivalent to about $2.21 annually and a 4.8% yield.

Shares of Portland General Electric Company (NYSE:POR - Get Free Report) have been assigned an average rating of "Hold" from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and three have assigned 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 $51.56.

POR has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and set a $48.50 price target on the stock in a research report on Thursday, August 13th. JPMorgan Chase & Co. decreased their price objective on shares of Portland General Electric from $56.00 to $53.00 and set a "neutral" rating for the company in a research report on Wednesday, September 9th. BTIG Research set a $57.00 price objective on shares of Portland General Electric in a research report on Tuesday, October 20th. Wells Fargo & Company lowered their target price on shares of Portland General Electric from $58.00 to $56.00 and set an "overweight" rating for the company in a research note on Friday, October 30th. Finally, Zacks Research upgraded shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in POR. BlackRock Inc. raised its holdings in shares of Portland General Electric by 7.4% during the second quarter. BlackRock Inc. now owns 18,719,655 shares of the utilities provider's stock valued at $970,240,000 after purchasing an additional 1,292,219 shares during the period. State Street Corp grew its stake in shares of Portland General Electric by 8.0% in the 2nd quarter. State Street Corp now owns 5,019,860 shares of the utilities provider's stock valued at $262,810,000 after buying an additional 372,165 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Portland General Electric by 31.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,329,723 shares of the utilities provider's stock valued at $120,750,000 after buying an additional 553,570 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Portland General Electric by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,831,142 shares of the utilities provider's stock valued at $96,629,000 after buying an additional 18,146 shares during the period. Finally, Bank of America Corp DE increased its position in Portland General Electric by 60.6% in 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 in the last quarter.

Portland General Electric Trading Down 0.2%

NYSE POR opened at $45.88 on Wednesday. The business's 50-day moving average price is $45.93 and its two-hundred day moving average price is $49.87. Portland General Electric has a 12 month low of $43.26 and a 12 month high of $54.62. The firm has a market capitalization of $5.46 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 2.86 and a beta of 0.48. The company has a current ratio of 1.15, a quick ratio of 1.01 and a debt-to-equity ratio of 1.21.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The utilities provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.05). Portland General Electric had a net margin of 7.68% and a return on equity of 7.66%. The company had revenue of $971.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company posted $1.00 EPS. The company's quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Portland General Electric will post 3.28 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 22nd will be issued a dividend of $0.5513 per share. This represents a $2.21 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Tuesday, December 22nd. Portland General Electric's dividend payout ratio (DPR) is presently 94.42%.

Portland General Electric Company Profile

Portland General Electric Company (PGE) is an investor-owned electric utility headquartered in Portland, Oregon. The company generates, transmits and distributes electricity to residential, commercial and industrial customers. PGE serves communities across Oregon, including the Portland metropolitan area and Salem. Its operations include a mix of company-owned and contracted power resources, as well as the transmission and distribution infrastructure needed to deliver electricity to customers. The company traces its history to the late 19th century and has grown alongside Oregon's cities and industries.

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