Portland General Electric (NYSE:POR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Portland General Electric (NYSE:POR) has earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $44.00.

POR has been the topic of several research analyst reports. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Mizuho boosted their target price on Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Finally, Barclays cut 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.

Portland General Electric Stock Performance

Shares of POR stock opened at $42.42 on Wednesday. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $49.72. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.22 and a quick ratio of 1.09. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 16.25 and a beta of 0.58. The business has a 50 day simple moving average of $43.34 and a 200 day simple moving average of $42.27.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, topping 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 company had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $828.94 million. During the same quarter in the prior year, the business posted $0.80 earnings per share. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. On average, equities research analysts anticipate that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 24th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 24th. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.71%. Portland General Electric’s dividend payout ratio is 72.80%.

Insider Activity at Portland General Electric

In other news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the sale, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Portland General Electric news, VP Brett Michael Sims sold 963 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total transaction of $43,363.89. Following the transaction, the vice president now directly owns 13,996 shares in the company, valued at $630,239.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Benjamin Felton sold 3,500 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,463 shares of company stock valued at $274,064. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Portland General Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in POR. Johnson Financial Group Inc. acquired a new position in Portland General Electric during the fourth quarter valued at approximately $25,000. LRI Investments LLC acquired a new position in Portland General Electric in the 1st quarter valued at $26,000. Fifth Third Bancorp raised its holdings in Portland General Electric by 181.8% in the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 409 shares during the period. BKM Wealth Management LLC acquired a new position in Portland General Electric during the 4th quarter worth $33,000. Finally, Mather Group LLC. bought a new stake in Portland General Electric during the first quarter valued at about $34,000.

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.