Analysts Set Portland General Electric (NYSE:POR) Price Target at $44.00

Portland General Electric (NYSE:PORGet Free Report) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $44.00.

A number of equities analysts have issued reports on the company. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Mizuho boosted their target price on Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th.

View Our Latest Research Report on Portland General Electric

Portland General Electric Stock Up 0.4 %

POR opened at $42.69 on Wednesday. The company has a fifty day moving average price of $43.46 and a 200-day moving average price of $42.27. The firm has a market capitalization of $4.40 billion, a P/E ratio of 16.36 and a beta of 0.58. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.22 and a quick ratio of 1.09. Portland General Electric has a one year low of $38.01 and a one year high of $49.72.

Portland General Electric (NYSE:PORGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.12. The company had revenue of $929.00 million during the quarter, compared to the consensus estimate of $828.94 million. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The firm’s revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. Equities research analysts expect that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.68%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, June 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 72.80%.

Insider Activity at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at $1,297,170. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,000 shares of Portland General Electric stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total value of $88,600.00. Following the sale, the senior vice president now owns 16,763 shares in the company, valued at $742,600.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin Felton sold 3,500 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the sale, the chief operating officer now owns 31,950 shares in the company, valued at approximately $1,297,170. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,463 shares of company stock worth $274,064. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D raised its stake in Portland General Electric by 16.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 56,486 shares of the utilities provider’s stock valued at $2,287,000 after acquiring an additional 8,140 shares during the last quarter. Deutsche Bank AG increased its position in shares of Portland General Electric by 4.9% during the third quarter. Deutsche Bank AG now owns 167,882 shares of the utilities provider’s stock worth $6,796,000 after acquiring an additional 7,816 shares during the last quarter. Rhumbline Advisers increased its position in shares of Portland General Electric by 2.6% during the third quarter. Rhumbline Advisers now owns 378,511 shares of the utilities provider’s stock worth $15,322,000 after acquiring an additional 9,554 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Portland General Electric in the third quarter worth about $1,027,000. Finally, PNC Financial Services Group Inc. grew its stake in Portland General Electric by 19.0% in the third quarter. PNC Financial Services Group Inc. now owns 10,831 shares of the utilities provider’s stock worth $438,000 after purchasing an additional 1,727 shares in the last quarter.

Portland General Electric Company Profile

(Get Free Report

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.

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Analyst Recommendations for Portland General Electric (NYSE:POR)

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