Portland General Electric (NYSE:POR) Receives $45.40 Consensus Price Target from Analysts

Portland General Electric (NYSE:POR) has been given a consensus recommendation of “Hold” by the ten brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $45.40.

Several equities research analysts have recently issued reports on POR shares. Evercore ISI reduced their price target on Portland General Electric from $51.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, April 28th. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Friday, April 25th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $44.00 target price (down from $50.00) on shares of Portland General Electric in a report on Thursday, April 10th. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their target price on Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, April 28th.

Portland General Electric Stock Up 0.3%

Shares of Portland General Electric stock opened at $42.59 on Friday. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 1.11 and a beta of 0.57. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The stock has a 50-day simple moving average of $43.12 and a 200-day simple moving average of $43.85.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 earnings per share. On average, equities research analysts expect that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be issued a dividend of $0.525 per share. The ex-dividend date is Tuesday, June 24th. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.93%. Portland General Electric’s payout ratio is 73.94%.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. The trade was a 4.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the company’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the transaction, the executive vice president now owns 32,646 shares of the company’s stock, valued at approximately $1,404,430.92. This trade represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,795 shares of company stock worth $159,946 over the last three months. 0.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Portland General Electric by 4.7% in the first quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider’s stock valued at $556,266,000 after purchasing an additional 559,201 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Portland General Electric by 19.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider’s stock valued at $172,720,000 after purchasing an additional 635,987 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Portland General Electric by 2.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider’s stock valued at $145,403,000 after purchasing an additional 93,903 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Portland General Electric by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider’s stock valued at $108,710,000 after purchasing an additional 47,172 shares in the last quarter. Finally, Zimmer Partners LP raised its stake in shares of Portland General Electric by 25.2% in the fourth quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider’s stock valued at $100,598,000 after purchasing an additional 463,685 shares in the last quarter.

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.