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

Shares of Portland General Electric (NYSE:POR - Get Free Report) have earned an average rating of "Hold" from the ten analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $45.60.

POR has been the subject of a number of research reports. Wall Street Zen raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. LADENBURG THALM/SH SH downgraded Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price for the company. in a report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price target on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Evercore ISI cut their price target on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Finally, 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 research note on Monday, April 28th.

Insider Buying and Selling at Portland General Electric

In other 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 sale, the executive vice president now owns 32,646 shares in the company, valued at $1,404,430.92. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is currently owned by insiders.

Institutional Trading of Portland General Electric

Hedge funds have recently added to or reduced their stakes in the business. Strs Ohio purchased a new position in shares of Portland General Electric during the 1st quarter worth about $397,000. Jacobi Capital Management LLC increased its position in Portland General Electric by 33.3% during the first quarter. Jacobi Capital Management LLC now owns 16,762 shares of the utilities provider's stock worth $748,000 after purchasing an additional 4,191 shares during the last quarter. WBI Investments LLC acquired a new position in Portland General Electric during the first quarter worth approximately $994,000. Intech Investment Management LLC raised its stake in Portland General Electric by 15.8% during the first quarter. Intech Investment Management LLC now owns 54,870 shares of the utilities provider's stock worth $2,447,000 after purchasing an additional 7,471 shares during the period. Finally, Focus Partners Wealth boosted its holdings in shares of Portland General Electric by 13.0% in the 1st quarter. Focus Partners Wealth now owns 8,812 shares of the utilities provider's stock valued at $393,000 after purchasing an additional 1,017 shares during the last quarter.

Portland General Electric Trading Down 0.2%

Shares of POR traded down $0.07 during mid-day trading on Wednesday, reaching $41.19. The stock had a trading volume of 809,284 shares, compared to its average volume of 1,130,478. The business's fifty day moving average is $42.46 and its 200 day moving average is $43.33. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 1.11 and a beta of 0.57.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly 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). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business had revenue of $928.00 million for the quarter, compared to analysts' expectations of $977.02 million. During the same quarter last year, the company earned $1.21 earnings per share. The firm's revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a yield of 5.10%. 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%.

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.