Portland General Electric Co. (POR) Lifted to Hold at Zacks Investment Research
Portland General Electric Co. (NYSE:POR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Portland General Electric, headquartered in Portland, Ore., is a vertically integrated electric utility that serves residential, commercial and industrial customers in Oregon. The company has more than a century of experience in power delivery. PGE generates power from a diverse mix of resources, including hydropower, coal and natural gas. PGE also participates in the wholesale market by purchasing and selling electricity and natural gas to utilities and energy marketers. “
Other research analysts also recently issued research reports about the stock. Bank of America Corp. downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research report on Tuesday, August 2nd. Williams Capital boosted their price target on shares of Portland General Electric from $41.00 to $45.00 and gave the stock a “hold” rating in a research report on Friday, August 5th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Portland General Electric currently has an average rating of “Hold” and an average target price of $41.21.
Shares of Portland General Electric (NYSE:POR) opened at 40.32 on Wednesday. The company has a 50-day moving average of $42.46 and a 200-day moving average of $41.92. The company has a market cap of $3.59 billion, a PE ratio of 19.43 and a beta of 0.31. Portland General Electric has a 1-year low of $34.97 and a 1-year high of $45.21.
Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.01. The firm earned $428 million during the quarter, compared to analyst estimates of $439.08 million. Portland General Electric had a return on equity of 8.15% and a net margin of 9.79%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. Equities analysts forecast that Portland General Electric will post $2.12 EPS for the current year.
The firm 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 dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 3.17%. Portland General Electric’s dividend payout ratio (DPR) is presently 61.84%.
A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its stake in shares of Portland General Electric by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 6,647 shares of the company’s stock worth $293,000 after buying an additional 47 shares during the period. Amalgamated Bank raised its stake in shares of Portland General Electric by 2.6% in the second quarter. Amalgamated Bank now owns 9,774 shares of the company’s stock worth $421,000 after buying an additional 245 shares during the period. Profund Advisors LLC raised its stake in shares of Portland General Electric by 2.2% in the second quarter. Profund Advisors LLC now owns 12,259 shares of the company’s stock worth $541,000 after buying an additional 266 shares during the period. West Coast Financial LLC raised its stake in shares of Portland General Electric by 0.4% in the second quarter. West Coast Financial LLC now owns 78,657 shares of the company’s stock worth $3,470,000 after buying an additional 350 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Portland General Electric by 3.8% in the second quarter. Hsbc Holdings PLC now owns 9,549 shares of the company’s stock worth $420,000 after buying an additional 351 shares during the period. Institutional investors and hedge funds own 94.27% of the company’s stock.
Portland General Electric Company Profile
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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