JPMorgan Chase & Co. Raises Portland General Electric (NYSE:POR) Price Target to $55.00

Portland General Electric (NYSE:POR) had its price target raised by JPMorgan Chase & Co. from $54.00 to $55.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other research analysts have also weighed in on POR. Evercore ISI started coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price on the stock. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Jefferies Financial Group started coverage on Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. Bank of America began coverage on Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price on the stock. Finally, KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $48.25.

Portland General Electric Stock Down 1.0 %

POR opened at $48.33 on Wednesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The stock has a market capitalization of $4.98 billion, a P/E ratio of 16.61, a P/E/G ratio of 1.37 and a beta of 0.59. The business has a 50 day simple moving average of $47.79 and a 200-day simple moving average of $45.42.

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 analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The company had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. During the same quarter last year, the company earned $0.46 earnings per share. Portland General Electric’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities analysts anticipate that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is presently 68.73%.

Insider Buying and Selling at Portland General Electric

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the transaction, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now owns 22,606 shares in the company, valued at $1,045,527.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Portland General Electric

A number of large investors have recently bought and sold shares of the stock. New York State Teachers Retirement System raised its position in shares of Portland General Electric by 39.8% in the 3rd quarter. New York State Teachers Retirement System now owns 33,766 shares of the utilities provider’s stock worth $1,617,000 after buying an additional 9,605 shares during the period. Nisa Investment Advisors LLC increased its stake in Portland General Electric by 4.1% during the third quarter. Nisa Investment Advisors LLC now owns 169,157 shares of the utilities provider’s stock worth $8,187,000 after acquiring an additional 6,712 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Portland General Electric by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 12,011 shares of the utilities provider’s stock worth $575,000 after purchasing an additional 810 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in shares of Portland General Electric by 315.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 78,278 shares of the utilities provider’s stock worth $3,703,000 after purchasing an additional 59,423 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Portland General Electric by 6.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,504 shares of the utilities provider’s stock valued at $599,000 after purchasing an additional 810 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.