Portland General Electric (NYSE:POR) Price Target Lowered to $44.00 at Wells Fargo & Company

Portland General Electric (NYSE:POR - Free Report) had its target price cut by Wells Fargo & Company from $46.00 to $44.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the utilities provider's stock.

Other analysts have also recently issued reports about the company. UBS Group reaffirmed a "neutral" rating and set a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. 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 on the stock. in a research report on Tuesday, February 18th. Barclays upped their price objective on shares of Portland General Electric from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. StockNews.com raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. Finally, Jefferies Financial Group cut their price target on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Portland General Electric has an average rating of "Hold" and a consensus target price of $45.10.

Portland General Electric Stock Performance

Shares of POR traded up $0.24 during midday trading on Monday, reaching $41.80. 648,576 shares of the stock were exchanged, compared to its average volume of 1,031,721. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The business's 50-day moving average price is $43.41 and its 200 day moving average price is $44.21. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.11 and a beta of 0.49.

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 for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The business had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. On average, sell-side analysts expect that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Tuesday, June 24th. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio is 73.94%.

Insiders Place Their Bets

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 completion of the sale, the executive vice president now owns 32,646 shares of the company's stock, valued at $1,404,430.92. This trade represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,795 shares of company stock valued at $159,946. Corporate insiders own 0.40% of the company's stock.

Hedge Funds Weigh In On Portland General Electric

A number of hedge funds have recently made changes to their positions in POR. Wayfinding Financial LLC acquired a new position in shares of Portland General Electric in the 1st quarter valued at about $27,000. True Wealth Design LLC bought a new stake in shares of Portland General Electric in the fourth quarter worth $27,000. Private Trust Co. NA grew its stake in Portland General Electric by 62.6% in the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after purchasing an additional 244 shares in the last quarter. Global X Japan Co. Ltd. grew its position in shares of Portland General Electric by 113.1% in the 1st 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 in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Portland General Electric during the fourth quarter worth $29,000.

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.