Zacks Investment Research lowered shares of Portland General Electric (NYSE:POR) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

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. “

Separately, Mizuho downgraded shares of Portland General Electric from a buy rating to a neutral rating and raised their target price for the company from $50.00 to $52.00 in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $47.67.

Shares of NYSE POR opened at $53.65 on Wednesday. Portland General Electric has a fifty-two week low of $39.60 and a fifty-two week high of $53.88. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 4.43 and a beta of 0.26. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 0.85.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, April 26th. The utilities provider reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.06. Portland General Electric had a net margin of 10.67% and a return on equity of 8.84%. The business had revenue of $573.00 million during the quarter, compared to the consensus estimate of $520.05 million. During the same quarter last year, the firm earned $0.72 earnings per share. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, sell-side analysts anticipate that Portland General Electric will post 2.45 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 25th will be issued a dividend of $0.385 per share. This is a boost from Portland General Electric’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, June 24th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.87%. Portland General Electric’s dividend payout ratio is presently 61.18%.

Several large investors have recently bought and sold shares of POR. BlackRock Inc. grew its holdings in shares of Portland General Electric by 20.8% during the fourth quarter. BlackRock Inc. now owns 8,758,280 shares of the utilities provider’s stock valued at $401,568,000 after buying an additional 1,510,055 shares during the last quarter. Norges Bank purchased a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $55,862,000. Teachers Advisors LLC grew its holdings in shares of Portland General Electric by 244.2% during the third quarter. Teachers Advisors LLC now owns 800,131 shares of the utilities provider’s stock valued at $36,494,000 after buying an additional 567,651 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $21,779,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Portland General Electric by 63.4% during the first quarter. Principal Financial Group Inc. now owns 1,101,999 shares of the utilities provider’s stock valued at $57,128,000 after buying an additional 427,754 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

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. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.

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