Portland General Electric (NYSE:POR) Given Average Recommendation of “Hold” by Brokerages

Shares of Portland General Electric (NYSE:POR) have been given an average rating of “Hold” by the eight analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $48.88.

A number of equities analysts recently issued reports on POR shares. Evercore ISI initiated coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price on the stock. UBS Group reiterated a “neutral” rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday. Bank of America reduced their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. KeyCorp lowered their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group began coverage on shares of Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price target for the company.

Portland General Electric Price Performance

Shares of NYSE POR opened at $43.15 on Friday. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The firm has a 50-day moving average of $45.91 and a two-hundred day moving average of $46.31. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.13 and a beta of 0.59.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 earnings per share. As a group, analysts expect that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s payout ratio is presently 59.70%.

Institutional Investors Weigh In On Portland General Electric

Several institutional investors and hedge funds have recently modified their holdings of POR. Commonwealth Equity Services LLC raised its stake in shares of Portland General Electric by 22.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 33,296 shares of the utilities provider’s stock valued at $1,440,000 after acquiring an additional 6,159 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Portland General Electric by 2.9% in the second quarter. Rhumbline Advisers now owns 357,664 shares of the utilities provider’s stock worth $15,465,000 after buying an additional 10,030 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of Portland General Electric during the 2nd quarter worth $6,152,000. Victory Capital Management Inc. grew its stake in Portland General Electric by 6.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock valued at $46,561,000 after buying an additional 69,392 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Portland General Electric by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 28,337 shares of the utilities provider’s stock worth $1,225,000 after acquiring an additional 546 shares during the period.

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.