Portland General Electric (NYSE:POR) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Portland General Electric (NYSE:POR) from a sell rating to a hold rating in a report published on Tuesday.

POR has been the topic of several other reports. KeyCorp upgraded shares of Portland General Electric from a sector weight rating to an overweight rating in a report on Monday, July 22nd. Bank of America began coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an underperform rating and a $47.00 target price on the stock. Jefferies Financial Group initiated coverage on Portland General Electric in a research report on Friday, September 20th. They issued a hold rating and a $48.00 target price on the stock. Finally, Barclays lowered Portland General Electric from an overweight rating to an equal weight rating and lifted their price target for the company from $48.00 to $49.00 in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $46.78.

Portland General Electric Trading Up 1.1 %

Shares of NYSE POR opened at $48.09 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Portland General Electric has a one year low of $38.01 and a one year high of $49.45. The business has a 50-day moving average price of $47.49 and a two-hundred day moving average price of $44.51. The firm has a market capitalization of $4.95 billion, a PE ratio of 18.43, a PEG ratio of 1.36 and a beta of 0.59.

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, topping analysts’ consensus estimates 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 analyst estimates of $716.43 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. As a group, analysts predict that Portland General Electric will post 3.08 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, October 15th. Stockholders of record on Tuesday, September 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.16%. Portland General Electric’s dividend payout ratio (DPR) is presently 76.63%.

Insider Activity

In related news, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was 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 directly owns 30,142 shares in the company, valued at approximately $1,446,816. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Benjamin Felton sold 1,886 shares of the firm’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 transaction, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,486 shares of company stock valued at $262,153. Insiders own 0.54% of the company’s stock.

Institutional Trading of Portland General Electric

Hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in shares of Portland General Electric during the second quarter worth approximately $399,000. Dana Investment Advisors Inc. raised its stake in Portland General Electric by 1.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 120,518 shares of the utilities provider’s stock valued at $5,211,000 after purchasing an additional 1,883 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Portland General Electric by 6.1% in the 2nd quarter. Cetera Investment Advisers now owns 56,066 shares of the utilities provider’s stock valued at $2,424,000 after purchasing an additional 3,233 shares during the period. Point72 Asset Management L.P. acquired a new stake in Portland General Electric in the 2nd quarter worth $7,459,000. Finally, Quarry LP grew its position in Portland General Electric by 962.3% in the 2nd quarter. Quarry LP now owns 1,636 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 1,482 shares during 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.