Portland General Electric’s (POR) Sell Rating Reiterated at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH reissued their sell rating on shares of Portland General Electric (NYSE:POR) in a research report released on Thursday morning, Marketbeat reports. The firm currently has a $43.00 target price on the utilities provider’s stock.

Several other analysts have also issued reports on the stock. Jefferies Financial Group upped their price target on shares of Portland General Electric from $43.00 to $46.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Portland General Electric in a research note on Monday, December 1st. Wells Fargo & Company began coverage on shares of Portland General Electric in a research report on Monday, October 27th. They set an “equal weight” rating and a $45.00 price target for the company. BTIG Research raised shares of Portland General Electric to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, UBS Group reaffirmed a “neutral” rating and set a $51.00 price objective on shares of Portland General Electric in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $47.00.

Portland General Electric Stock Performance

NYSE:POR opened at $48.59 on Thursday. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 4.44 and a beta of 0.67. The business has a 50 day moving average of $46.86 and a 200 day moving average of $43.50. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.08 and a quick ratio of 0.95. Portland General Electric has a 1-year low of $39.54 and a 1-year high of $51.14.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Thursday, October 30th. The utilities provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. Portland General Electric had a net margin of 8.63% and a return on equity of 8.32%. The firm had revenue of $952.00 million for the quarter, compared to the consensus estimate of $975.64 million. During the same period last year, the firm posted $0.90 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts predict that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 22nd will be given a dividend of $0.525 per share. The ex-dividend date is Monday, December 22nd. This represents a $2.10 annualized dividend and a dividend yield of 4.3%. Portland General Electric’s payout ratio is currently 76.36%.

Insider Buying and Selling

In other Portland General Electric news, CEO Maria M. Pope sold 18,896 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $42.50, for a total value of $803,080.00. Following the completion of the sale, the chief executive officer directly owned 194,135 shares in the company, valued at $8,250,737.50. This trade represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Johnson Financial Group Inc. purchased a new position in Portland General Electric during the third quarter valued at $27,000. Root Financial Partners LLC purchased a new stake in shares of Portland General Electric in the 3rd quarter worth about $27,000. IFP Advisors Inc increased its stake in shares of Portland General Electric by 1,291.7% in the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 620 shares in the last quarter. S.A. Mason LLC purchased a new position in Portland General Electric during the 2nd quarter valued at about $29,000. Finally, Bell Investment Advisors Inc boosted its stake in Portland General Electric by 80.6% during the second quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 370 shares in the last quarter.

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. 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.