Portland General Electric (NYSE:POR) Sets New 12-Month Low on Analyst Downgrade

Portland General Electric (NYSE:POR - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday after Barclays lowered their price target on the stock from $48.00 to $45.00. Barclays currently has an equal weight rating on the stock. Portland General Electric traded as low as $40.92 and last traded at $42.13, with a volume of 1451738 shares. The stock had previously closed at $41.70.

A number of other analysts have also weighed in on POR. Evercore ISI reduced their target price on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective for the company. in a report on Tuesday, February 18th. StockNews.com upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. UBS Group reiterated a "neutral" rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $44.00 price objective (down from $50.00) on shares of Portland General Electric in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $45.40.

Insider Activity

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the company's stock in a transaction on Thursday, April 17th. The stock was 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. In the last ninety days, insiders have sold 3,795 shares of company stock worth $159,946. Corporate insiders own 0.40% of the company's stock.

Institutional Investors Weigh In On Portland General Electric

Large investors have recently modified their holdings of the business. Private Trust Co. NA boosted its stake in shares of Portland General Electric by 62.6% during the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after acquiring an additional 244 shares in the last quarter. Arizona State Retirement System lifted its holdings in Portland General Electric by 0.8% during the fourth quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock valued at $1,305,000 after purchasing an additional 245 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Portland General Electric by 3.2% in the fourth quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider's stock valued at $379,000 after purchasing an additional 269 shares during the period. Private Advisor Group LLC lifted its stake in Portland General Electric by 1.6% in the 1st quarter. Private Advisor Group LLC now owns 17,986 shares of the utilities provider's stock valued at $802,000 after buying an additional 279 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in shares of Portland General Electric by 4.2% in the fourth quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider's stock worth $318,000 after acquiring an additional 291 shares during the last quarter.

Portland General Electric Stock Performance

The firm's 50 day simple moving average is $43.32 and its 200-day simple moving average is $44.06. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 1.11 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 earnings per share (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 analysts' expectations of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. Portland General Electric's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the company earned $1.21 earnings per share. On average, sell-side analysts predict that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed 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. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 4.91%. The ex-dividend date is Tuesday, June 24th. Portland General Electric's dividend payout ratio (DPR) is presently 73.94%.

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.