Portland General Electric (NYSE:POR) Now Covered by Evercore ISI

Evercore ISI assumed coverage on shares of Portland General Electric (NYSE:POR) in a research report released on Wednesday, Marketbeat reports. The firm issued an outperform rating and a $54.00 price objective on the utilities provider’s stock.

POR has been the topic of a number of other research reports. KeyCorp upgraded Portland General Electric from a sector weight rating to an overweight rating in a research report on Monday, July 22nd. Barclays cut shares of Portland General Electric from an overweight rating to an equal weight rating and raised their price objective for the company from $48.00 to $49.00 in a research report on Wednesday, September 18th. StockNews.com upgraded shares of Portland General Electric from a sell rating to a hold rating in a research report on Tuesday, September 24th. Bank of America assumed coverage on Portland General Electric in a research note on Thursday, September 12th. They set an underperform rating and a $47.00 price target for the company. Finally, Jefferies Financial Group initiated coverage on Portland General Electric in a report on Friday, September 20th. They set a hold rating and a $48.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $46.78.

Portland General Electric Stock Performance

Shares of POR stock opened at $48.09 on Wednesday. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $49.45. The stock has a market capitalization of $4.96 billion, a P/E ratio of 18.43, a PEG ratio of 1.33 and a beta of 0.59. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm’s 50 day moving average is $47.52 and its 200 day moving average is $44.55.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The business had revenue of $758.00 million during the quarter, compared to the consensus estimate of $716.43 million. During the same quarter last year, the company earned $0.44 EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $2.00 annualized dividend and a yield of 4.16%. Portland General Electric’s payout ratio is 76.63%.

Insiders Place Their Bets

In other news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,486 shares of company stock worth $262,153. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of POR. Goldman Sachs Group Inc. boosted its position in shares of Portland General Electric by 29.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock valued at $196,089,000 after buying an additional 1,017,503 shares during the last quarter. Norges Bank bought a new stake in shares of Portland General Electric in the fourth quarter worth approximately $39,112,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Portland General Electric during the second quarter valued at approximately $31,557,000. Cbre Investment Management Listed Real Assets LLC bought a new position in Portland General Electric during the fourth quarter valued at approximately $17,460,000. Finally, Marshall Wace LLP boosted its holdings in Portland General Electric by 657.0% in the second quarter. Marshall Wace LLP now owns 314,688 shares of the utilities provider’s stock worth $13,607,000 after purchasing an additional 273,118 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.