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 issued on Tuesday.

Other analysts also recently issued reports about the company. Barclays downgraded Portland General Electric from an overweight rating to an equal weight rating and lifted their price objective for the company from $48.00 to $49.00 in a report on Wednesday, September 18th. KeyCorp raised shares of Portland General Electric from a sector weight rating to an overweight rating in a research report on Monday, July 22nd. Jefferies Financial Group started coverage on shares of Portland General Electric in a report on Friday, September 20th. They set a hold rating and a $48.00 price objective on the stock. Finally, Bank of America initiated coverage on Portland General Electric in a report on Thursday, September 12th. They set an underperform rating and a $47.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $46.78.

Portland General Electric Price Performance

Shares of POR stock opened at $47.57 on Tuesday. The company has a market capitalization of $4.90 billion, a P/E ratio of 18.23, a P/E/G ratio of 1.36 and a beta of 0.59. The company’s 50-day simple moving average is $47.49 and its two-hundred day simple moving average is $44.51. Portland General Electric has a one year low of $38.01 and a one year high of $49.45. 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 (NYSE:POR) last announced its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The company had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. Portland General Electric’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 earnings per share. As a group, equities analysts anticipate that Portland General Electric will post 3.08 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.20%. Portland General Electric’s dividend payout ratio is presently 76.63%.

Insider Transactions at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction dated 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 directly owns 14,263 shares in the company, valued at $688,902.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’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 transaction of $120,750.00. Following the transaction, the senior vice president now owns 14,263 shares in the company, valued at approximately $688,902.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the transaction, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The disclosure for this sale can be found here. Insiders sold 5,486 shares of company stock valued at $262,153 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Portland General Electric

Large investors have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new position in shares of Portland General Electric in the fourth quarter worth about $25,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Portland General Electric by 767.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 514 shares during the period. LRI Investments LLC acquired a new stake in shares of Portland General Electric in the first quarter worth $26,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Portland General Electric during the 2nd quarter valued at about $33,000. Finally, Mather Group LLC. purchased a new stake in shares of Portland General Electric in the first quarter worth about $34,000.

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.