Portland General Electric (NYSE:POR) Price Target Raised to $51.00 at Evercore ISI

Portland General Electric (NYSE:POR) had its price target increased by Evercore ISI from $50.00 to $51.00 in a research report report published on Tuesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the utilities provider’s stock.

Other research analysts have also issued reports about the stock. KeyCorp decreased their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group restated a “neutral” rating and set a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Bank of America reduced their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. Finally, LADENBURG THALM/SH SH downgraded Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.44.

Portland General Electric Trading Up 1.1 %

NYSE:POR opened at $43.80 on Tuesday. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 1.09 and a beta of 0.61. Portland General Electric has a one year low of $39.49 and a one year high of $49.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The business’s 50-day simple moving average is $42.39 and its 200 day simple moving average is $45.61.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. During the same period in the prior year, the business posted $0.67 EPS. As a group, sell-side analysts predict that Portland General Electric will post 3.2 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is 66.45%.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

Several institutional investors have recently modified their holdings of POR. Norges Bank bought a new position in Portland General Electric in the 4th quarter worth about $62,004,000. Zimmer Partners LP raised its holdings in shares of Portland General Electric by 107.0% during the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after buying an additional 952,214 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Portland General Electric during the fourth quarter worth approximately $32,553,000. Fuller & Thaler Asset Management Inc. grew its holdings in Portland General Electric by 19.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider’s stock worth $172,720,000 after buying an additional 635,987 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Portland General Electric by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock worth $519,651,000 after buying an additional 572,531 shares in the last quarter.

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.