Portland General Electric - POR Stock Forecast, Price & News

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, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line. It has 28,206 circuit miles of distribution lines. The company also purchases and sells wholesale natural gas in the United States and Canada. It serves approximately 917 thousand residential, commercial, and industrial customers in 51 cities. The company was founded in 1889 and is headquartered in Portland, Oregon.

Portland General Electric Trading Down 1.0 %

Shares of NYSE:POR traded down $0.55 during midday trading on Thursday, reaching $53.59. 478,488 shares of the company's stock were exchanged, compared to its average volume of 853,044. The firm's 50 day simple moving average is $49.47 and its two-hundred day simple moving average is $50.86. Portland General Electric has a fifty-two week low of $45.02 and a fifty-two week high of $57.03. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.87 and a quick ratio of 0.77. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 5.11 and a beta of 0.51.

Portland General Electric (NYSE:POR - Get Rating) last released its quarterly earnings results on Thursday, July 28th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.32. The business had revenue of $591.00 million for the quarter, compared to the consensus estimate of $531.67 million. Portland General Electric had a net margin of 9.73% and a return on equity of 8.87%. The business's revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. As a group, sell-side analysts forecast that Portland General Electric will post 2.82 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, September 26th will be paid a $0.4525 dividend. The ex-dividend date of this dividend is Friday, September 23rd. This represents a $1.81 annualized dividend and a yield of 3.38%. Portland General Electric's dividend payout ratio is currently 67.54%.

Wall Street Analyst Weigh In

A number of research firms have commented on POR. Barclays cut their price objective on shares of Portland General Electric from $53.00 to $49.00 and set an "equal weight" rating for the company in a report on Monday, July 18th. Wells Fargo & Company raised their target price on Portland General Electric from $53.00 to $58.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 19th. The Goldman Sachs Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $49.00 to $52.00 in a report on Thursday, June 2nd. Credit Suisse Group started coverage on shares of Portland General Electric in a report on Monday, April 25th. They issued an "underperform" rating and a $55.00 price objective for the company. Finally, Mizuho lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and decreased their target price for the company from $56.00 to $50.00 in a report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $52.67.

Insiders Place Their Bets

In related news, Director Dawn L. Farrell bought 4,000 shares of the company's stock in a transaction that occurred on Thursday, May 26th. The shares were purchased at an average cost of $48.52 per share, with a total value of $194,080.00. Following the transaction, the director now directly owns 9,223 shares of the company's stock, valued at approximately $447,499.96. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Dawn L. Farrell acquired 4,000 shares of the firm's stock in a transaction on Thursday, May 26th. The stock was bought at an average price of $48.52 per share, for a total transaction of $194,080.00. Following the completion of the purchase, the director now directly owns 9,223 shares of the company's stock, valued at approximately $447,499.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John Teeruk Kochavatr sold 2,000 shares of the firm's stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $53.72, for a total value of $107,440.00. Following the transaction, the vice president now directly owns 14,112 shares in the company, valued at approximately $758,096.64. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.