Portland General Electric (NYSE:POR) Given Average Rating of “Moderate Buy” by Analysts

Portland General Electric (NYSE:POR) has been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $45.13.

A number of equities analysts have recently commented on the stock. UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $47.00 to $45.00 in a research report on Monday, January 29th. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Barclays decreased their target price on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Mizuho reissued a “neutral” rating and set a $42.00 price target (down previously from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. Finally, Bank of America downgraded Portland General Electric from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $55.00 to $43.00 in a report on Monday, February 5th.

Portland General Electric Trading Up 0.7 %

POR stock opened at $43.77 on Tuesday. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $51.58. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 16.77 and a beta of 0.56. The company has a quick ratio of 1.09, a current ratio of 1.22 and a debt-to-equity ratio of 1.34. The firm’s fifty day simple moving average is $41.61 and its two-hundred day simple moving average is $41.57.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.12. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $828.94 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, analysts anticipate that Portland General Electric will post 3.07 earnings per share for the current year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $2.00 dividend on an annualized basis and a yield of 4.57%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s dividend payout ratio (DPR) is presently 72.80%.

Insiders Place Their Bets

In other news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now directly owns 31,950 shares in the company, valued at approximately $1,297,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. acquired a new stake in Portland General Electric in the fourth quarter worth about $25,000. Fifth Third Bancorp increased its holdings in shares of Portland General Electric by 181.8% during the fourth quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 409 shares in the last quarter. BKM Wealth Management LLC purchased a new position in shares of Portland General Electric in the 4th quarter valued at approximately $33,000. Mather Group LLC. acquired a new stake in Portland General Electric in the 1st quarter worth approximately $34,000. Finally, Allworth Financial LP grew its position in Portland General Electric by 44.0% during the 3rd quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 261 shares during the last quarter.

Portland General Electric Company Profile

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, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.