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.

Analyst Upgrades and Downgrades

Several research firms have weighed in on POR. The Goldman Sachs Group upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $49.00 to $52.00 in a report on Thursday, June 2nd. Bank of America downgraded shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $52.00 price objective on the stock. in a report on Monday, August 1st. Mizuho downgraded shares of Portland General Electric from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $56.00 to $50.00 in a report on Tuesday, June 28th. Barclays lowered their price objective on shares of Portland General Electric from $53.00 to $49.00 and set an "equal weight" rating on the stock in a report on Monday, July 18th. Finally, Credit Suisse Group began coverage on shares of Portland General Electric in a report on Monday, April 25th. They set an "underperform" rating and a $55.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Portland General Electric presently has a consensus rating of "Hold" and an average price target of $52.67.

Portland General Electric Stock Up 2.0 %

Shares of NYSE:POR traded up $1.07 during trading on Friday, hitting $54.66. The stock had a trading volume of 601,469 shares, compared to its average volume of 933,571. Portland General Electric has a 12 month low of $45.02 and a 12 month 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 company has a market capitalization of $4.88 billion, a PE ratio of 20.40, a PEG ratio of 5.09 and a beta of 0.51. The firm has a fifty day moving average of $49.57 and a two-hundred day moving average of $50.88.

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

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, September 26th will be given a dividend of $0.4525 per share. The ex-dividend date of this dividend is Friday, September 23rd. This represents a $1.81 dividend on an annualized basis and a yield of 3.31%. Portland General Electric's dividend payout ratio is presently 67.54%.

Insiders Place Their Bets

In other Portland General Electric news, Director Dawn L. Farrell bought 4,000 shares of the business's stock in a transaction on Thursday, May 26th. The stock was purchased at an average price of $48.52 per share, for a total transaction of $194,080.00. Following the completion of the transaction, the director now directly owns 9,223 shares of the company's stock, valued at $447,499.96. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Dawn L. Farrell purchased 4,000 shares of the stock in a transaction dated 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 completion of the acquisition, the director now owns 9,223 shares in the company, valued at approximately $447,499.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP John Teeruk Kochavatr sold 2,000 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $53.72, for a total transaction of $107,440.00. Following the completion of the sale, the vice president now directly owns 14,112 shares in the company, valued at $758,096.64. The disclosure for this sale can be found here. Company insiders own 0.52% of the company's stock.