Portland General Electric (NYSE:POR) Stock Crosses Below 50-Day Moving Average - What's Next?

Key Points

• Portland General Electric shares slipped below their 50-day moving average, trading as low as $45.29 versus a 50-day average of $45.93.
• Analysts’ consensus rating is Hold, with an average price target of $51.56; recent firms trimmed several targets, including BMO to $47.
• The company’s latest quarter missed earnings and revenue estimates, though revenue rose 2% year over year. It also declared a quarterly dividend of $0.5513 per share, equivalent to a 4.8% annualized yield.

Portland General Electric Company (NYSE:POR - Get Free Report)'s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $45.93 and traded as low as $45.29. Portland General Electric shares last traded at $45.8850, with a volume of 1,258,744 shares changing hands.

Analyst Upgrades and Downgrades

POR has been the subject of a number of recent research reports. Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. BMO Capital Markets lowered their price target on shares of Portland General Electric from $52.00 to $47.00 and set a "market perform" rating for the company in a report on Wednesday, September 30th. JPMorgan Chase & Co. lowered their price target on shares of Portland General Electric from $56.00 to $53.00 and set a "neutral" rating for the company in a report on Wednesday, September 9th. Wells Fargo & Company cut their price objective on shares of Portland General Electric from $58.00 to $56.00 and set an "overweight" rating for the company in a research report on Friday, October 30th. Finally, BTIG Research set a $57.00 price objective on shares of Portland General Electric in a research note on Tuesday, October 20th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $51.56.

Portland General Electric Stock Performance

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 debt-to-equity ratio of 1.21, a quick ratio of 1.01 and a current ratio of 1.15. The company's fifty day moving average price is $45.93 and its two-hundred day moving average price is $49.87.

Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Thursday, October 29th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.05). Portland General Electric had a return on equity of 7.66% and a net margin of 7.68%. 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 prior year, the business posted $1.00 earnings per share. Portland General Electric's revenue was up 2.0% on a year-over-year basis. As a group, equities analysts expect that Portland General Electric Company will post 3.28 earnings per share for the current year.

Portland General Electric Announces Dividend

The business 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 $0.5513 dividend. This represents a $2.21 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Tuesday, December 22nd. Portland General Electric's dividend payout ratio (DPR) is 94.42%.

Institutional Trading of Portland General Electric

Institutional investors have recently made changes to their positions in the stock. Mather Group LLC. raised its position in shares of Portland General Electric by 83.9% in the 3rd quarter. Mather Group LLC. now owns 695 shares of the utilities provider's stock worth $31,000 after buying an additional 317 shares during the period. Root Financial Partners LLC acquired a new position in Portland General Electric in the third quarter valued at $32,000. Bogart Wealth LLC grew its position in Portland General Electric by 1,080.0% during the third quarter. Bogart Wealth LLC now owns 885 shares of the utilities provider's stock valued at $39,000 after acquiring an additional 810 shares during the period. State of Wyoming grew its position in Portland General Electric by 32.9% during the second quarter. State of Wyoming now owns 1,193 shares of the utilities provider's stock valued at $62,000 after acquiring an additional 295 shares during the period. Finally, Versant Capital Management Inc grew its position in Portland General Electric by 426.4% during the second quarter. Versant Capital Management Inc now owns 2,369 shares of the utilities provider's stock valued at $123,000 after acquiring an additional 1,919 shares during the period.

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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