Portland General Electric (NYSE:POR) Reaches New 12-Month Low - Here's What Happened

Portland General Electric Company (NYSE:POR - Get Free Report) shares reached a new 52-week low on Tuesday . The stock traded as low as $40.03 and last traded at $40.26, with a volume of 1194736 shares trading hands. The stock had previously closed at $40.96.

Analysts Set New Price Targets

Several analysts have commented on POR shares. UBS Group upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $47.00 to $50.00 in a research note on Monday, May 5th. JPMorgan Chase & Co. decreased their target price on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. BMO Capital Markets began coverage on Portland General Electric in a research note on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price target for the company. Barclays cut their price target on Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Finally, Evercore ISI decreased their price objective on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $45.60.

Portland General Electric Stock Up 0.9%

The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.28. The company has a 50-day simple moving average of $41.99 and a 200 day simple moving average of $42.81. The company has a market cap of $4.44 billion, a P/E ratio of 14.27, a P/E/G ratio of 3.63 and a beta of 0.57.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The company had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. Portland General Electric had a return on equity of 8.24% and a net margin of 8.84%. The company's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 earnings per share. On average, equities analysts anticipate that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be given a dividend of $0.525 per share. The ex-dividend date is Tuesday, June 24th. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.18%. Portland General Electric's dividend payout ratio (DPR) is 73.94%.

Insider Activity at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction 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. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Portland General Electric

Several institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in Portland General Electric by 121.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 27,557 shares of the utilities provider's stock worth $1,191,000 after acquiring an additional 15,136 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Portland General Electric by 11.6% during the fourth quarter. Van ECK Associates Corp now owns 93,330 shares of the utilities provider's stock valued at $4,071,000 after purchasing an additional 9,715 shares in the last quarter. Rhumbline Advisers increased its holdings in Portland General Electric by 4.3% during the fourth quarter. Rhumbline Advisers now owns 367,063 shares of the utilities provider's stock valued at $16,011,000 after buying an additional 15,045 shares during the period. Principal Securities Inc. increased its holdings in Portland General Electric by 23.9% during the fourth quarter. Principal Securities Inc. now owns 6,518 shares of the utilities provider's stock valued at $284,000 after buying an additional 1,259 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its stake in Portland General Electric by 2.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 44,749 shares of the utilities provider's stock worth $1,952,000 after buying an additional 1,254 shares in the last quarter.

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.