Portland General Electric (NYSE:POR) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Portland General Electric (NYSE:POR – Get Rating) in a research note published on Thursday morning. The brokerage issued a hold rating on the utilities provider’s stock.

A number of other brokerages have also recently issued reports on POR. Credit Suisse Group lifted their price objective on Portland General Electric from $48.00 to $51.00 and gave the company a neutral rating in a report on Tuesday, February 21st. Bank of America raised Portland General Electric from a neutral rating to a buy rating and lifted their price objective for the company from $47.00 to $52.00 in a report on Tuesday, March 14th. Finally, Wells Fargo & Company lifted their price objective on Portland General Electric from $52.00 to $53.00 and gave the company an equal weight rating in a report on Friday, February 17th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $50.00.

Portland General Electric Stock Down 1.6 %

Shares of NYSE POR opened at $48.12 on Thursday. The stock has a market cap of $4.30 billion, a PE ratio of 18.51, a PEG ratio of 3.05 and a beta of 0.56. The business has a fifty day moving average of $47.79 and a two-hundred day moving average of $47.58. Portland General Electric has a 52-week low of $41.58 and a 52-week high of $57.03. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.75 and a current ratio of 0.81.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, March 27th will be issued a $0.4525 dividend. This represents a $1.81 dividend on an annualized basis and a dividend yield of 3.76%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, March 24th. Portland General Electric’s payout ratio is currently 69.62%.

Insider Activity at Portland General Electric

In related news, VP Brett Michael Sims sold 2,050 shares of Portland General Electric stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $47.00, for a total value of $96,350.00. Following the completion of the transaction, the vice president now directly owns 10,978 shares of the company’s stock, valued at $515,966. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.51% of the stock is currently owned by company insiders.

Institutional Trading of Portland General Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in Portland General Electric by 308.8% during the 3rd quarter. Bessemer Group Inc. now owns 834 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 630 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Portland General Electric by 69.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 778 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 318 shares during the last quarter. Ronald Blue Trust Inc. bought a new stake in Portland General Electric during the 2nd quarter worth about $47,000. EverSource Wealth Advisors LLC grew its position in shares of Portland General Electric by 475.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 995 shares of the utilities provider’s stock worth $49,000 after buying an additional 822 shares during the period. Finally, American National Bank acquired a new position in shares of Portland General Electric during the 3rd quarter worth about $50,000. 97.03% of the stock is owned by institutional investors.

About Portland General Electric

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Portland General Electric Co engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The firm also sells electricity and natural gas in the wholesale market to utilities, brokers, and power marketers. It also serves residential, commercial and non-residential customers.