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

Portland General Electric (NYSE:POR) has received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $44.86.

POR has been the subject of several recent research reports. Mizuho boosted their target price on shares of Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Barclays lifted their target price on Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Finally, KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd.

Insider Transactions at Portland General Electric

In related news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the sale, the vice president now owns 22,606 shares in the company, valued at $1,045,527.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at $1,045,527.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the completion of the sale, the chief operating officer now owns 30,142 shares in the company, valued at $1,446,816. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Portland General Electric by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock valued at $483,069,000 after buying an additional 212,981 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Portland General Electric by 29.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock worth $196,089,000 after acquiring an additional 1,017,503 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Portland General Electric by 6.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,758,995 shares of the utilities provider’s stock worth $119,575,000 after acquiring an additional 161,432 shares during the period. Principal Financial Group Inc. grew its position in shares of Portland General Electric by 5.4% in the fourth quarter. Principal Financial Group Inc. now owns 1,966,720 shares of the utilities provider’s stock valued at $85,238,000 after purchasing an additional 100,496 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Portland General Electric by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after purchasing an additional 86,718 shares during the period.

Portland General Electric Stock Up 0.9 %

POR stock opened at $48.11 on Monday. The stock’s 50 day simple moving average is $45.77 and its 200 day simple moving average is $43.58. The company has a market cap of $4.96 billion, a P/E ratio of 18.43 and a beta of 0.58. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $48.62.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.07. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The business had revenue of $758.00 million during the quarter, compared to the consensus estimate of $716.43 million. During the same quarter last year, the firm posted $0.44 EPS. Portland General Electric’s revenue was up 17.0% compared to the same quarter last year. On average, research analysts expect that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is presently 76.63%.

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.