Portland General Electric (NYSE:POR) Receives Average Recommendation of "Hold" from Brokerages

Shares of Portland General Electric (NYSE:POR - Get Free Report) have been given a consensus rating of "Hold" by the ten analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $45.40.

A number of research firms have recently commented on POR. Jefferies Financial Group cut their price target on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Evercore ISI reduced their target price on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, April 28th. UBS Group upgraded 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. Wells Fargo & Company reduced their price objective on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Finally, LADENBURG THALM/SH SH cut shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research note on Tuesday, February 18th.

Insiders Place Their Bets

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Benjamin Felton sold 1,845 shares of Portland General Electric stock in a transaction dated 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 approximately $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. Over the last ninety days, insiders have sold 3,795 shares of company stock worth $159,946. Company insiders own 0.40% of the company's stock.

Institutional Investors Weigh In On Portland General Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Portland General Electric in the fourth quarter worth $27,000. Wayfinding Financial LLC purchased a new stake in Portland General Electric in the 1st quarter worth $27,000. Private Trust Co. NA raised its holdings in Portland General Electric by 62.6% during the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 244 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Portland General Electric in the fourth quarter valued at about $29,000. Finally, Global X Japan Co. Ltd. boosted its stake in shares of Portland General Electric by 113.1% in the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock worth $29,000 after acquiring an additional 345 shares during the period.

Portland General Electric Stock Performance

Shares of POR opened at $42.45 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The stock has a market cap of $4.65 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.11 and a beta of 0.57. The business's 50 day moving average price is $43.15 and its 200-day moving average price is $43.96. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate 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 9.10% and a net margin of 9.13%. The company's revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. Equities research analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be issued a dividend of $0.525 per share. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend is Tuesday, June 24th. Portland General Electric's dividend payout ratio is currently 73.94%.

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.

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