Portland General Electric (NYSE:POR) Receives Average Recommendation of “Hold” from Brokerages

Shares of Portland General Electric (NYSE:POR) have earned an average recommendation of “Hold” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $48.88.

POR has been the topic of several research reports. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Bank of America decreased their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. UBS Group reaffirmed a “neutral” rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. KeyCorp cut their target price on shares of 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, JPMorgan Chase & Co. lifted their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in shares of Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 265 shares during the last quarter. First Pacific Financial lifted its position in Portland General Electric by 2.9% during the 3rd quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock worth $591,000 after acquiring an additional 347 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of Portland General Electric by 20.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 413 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 450 shares during the period. Finally, Townsquare Capital LLC raised its stake in shares of Portland General Electric by 6.4% during the third quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock worth $364,000 after purchasing an additional 458 shares during the last quarter.

Portland General Electric Stock Performance

NYSE:POR opened at $42.64 on Friday. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The company has a 50 day moving average price of $45.58 and a 200 day moving average price of $46.34. The stock has a market capitalization of $4.50 billion, a P/E ratio of 12.73, a PEG ratio of 1.13 and a beta of 0.60.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping 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 return on equity of 10.28% and a net margin of 10.30%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the business posted $0.46 earnings per share. Equities research analysts forecast that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.69%. Portland General Electric’s dividend payout ratio is currently 59.70%.

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.