Portland General Electric Co. (POR) Shares Up 0.9%
Portland General Electric Co. (NYSE:POR) shares shot up 0.9% on Tuesday . The stock traded as high as $45.07 and last traded at $44.82, with a volume of 334,021 shares traded. The stock had previously closed at $44.40.
Several brokerages have weighed in on POR. Goldman Sachs Group Inc. lowered shares of Portland General Electric from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $39.00 to $38.00 in a research note on Monday, June 6th. Zacks Investment Research raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. Bank of America Corp. reaffirmed a “buy” rating and set a $44.00 target price on shares of Portland General Electric in a research note on Tuesday, May 24th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Portland General Electric in a research note on Monday, April 18th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $39.79.
The stock has a 50-day moving average price of $42.05 and a 200 day moving average price of $39.51. The stock has a market capitalization of $3.97 billion and a P/E ratio of 21.30.
Portland General Electric (NYSE:POR) last posted its earnings results on Friday, April 29th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.07. The business had revenue of $487 million for the quarter, compared to analyst estimates of $520.83 million. During the same period last year, the company posted $0.62 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts forecast that Portland General Electric Co. will post $2.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Monday, June 27th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, June 23rd. This is a boost from Portland General Electric’s previous quarterly dividend of $0.30.
In other Portland General Electric news, VP Maria M. Pope sold 13,500 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $41.60, for a total value of $561,600.00. Following the sale, the vice president now directly owns 13,585 shares of the company’s stock, valued at $565,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Other large investors recently modified their holdings of the company. Bailard Inc. acquired a new position in shares of Portland General Electric during the fourth quarter worth approximately $1,211,000. Whittier Trust Co. raised its position in shares of Portland General Electric by 1.0% in the fourth quarter. Whittier Trust Co. now owns 35,805 shares of the company’s stock worth $1,302,000 after buying an additional 370 shares during the period. Private Advisor Group LLC acquired a new position in shares of Portland General Electric during the fourth quarter worth approximately $1,520,000. West Coast Financial LLC raised its position in shares of Portland General Electric by 1.2% in the fourth quarter. West Coast Financial LLC now owns 76,897 shares of the company’s stock worth $2,797,000 after buying an additional 908 shares during the period. Finally, Mutual of America Capital Management LLC raised its position in shares of Portland General Electric by 9.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 98,690 shares of the company’s stock worth $3,589,000 after buying an additional 8,617 shares during the period.
Portland General Electric Company (PGE) is an electric utility company. The Company is engaged in the generation, wholesale purchase, transmission, distribution and retail sale of electricity in the state of Oregon. The Company also sells electricity and natural gas in the wholesale market to utilities, brokers and power marketers.
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