Portland General Electric (NYSE:POR) Receives Consensus Recommendation of “Hold” from Brokerages

Portland General Electric (NYSE:POR) has been given an average recommendation of “Hold” by the nine analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $47.00.

Several research analysts recently commented on the stock. Barclays raised their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Jefferies Financial Group cut their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Bank of America cut their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a report on Tuesday, February 18th. Finally, Evercore ISI raised their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th.

Portland General Electric Price Performance

POR opened at $44.31 on Friday. The company’s 50 day simple moving average is $42.74 and its 200 day simple moving average is $45.26. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The stock has a market capitalization of $4.85 billion, a PE ratio of 14.72, a P/E/G ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The business had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $716.17 million. During the same period last year, the company earned $0.67 earnings per share. As a group, sell-side analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.51%. Portland General Electric’s dividend payout ratio is currently 66.45%.

Insider Buying and Selling

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.40% of the company’s stock.

Institutional Trading of Portland General Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in POR. True Wealth Design LLC bought a new stake in shares of Portland General Electric in the fourth quarter worth $27,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric in the fourth quarter worth $29,000. Versant Capital Management Inc increased its stake in shares of Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after buying an additional 450 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock worth $36,000 after buying an additional 769 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Portland General Electric in the fourth quarter worth $52,000.

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.