Portland General Electric (NYSE:POR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Portland General Electric (NYSE:POR) have been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $46.78.

A number of research analysts recently issued reports on POR shares. Bank of America assumed coverage on shares of Portland General Electric in a report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective for the company. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI assumed coverage on Portland General Electric in a research note on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price objective on the stock. Finally, Barclays cut Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $48.00 to $49.00 in a research note on Wednesday, September 18th.

Insider Buying and Selling at Portland General Electric

In other news, COO Benjamin Felton sold 1,886 shares of Portland General Electric stock in a transaction that occurred 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 in the company, valued at approximately $1,446,816. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Portland General Electric news, 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 sale, the chief operating officer now owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the sale, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,486 shares of company stock worth $262,153. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Portland General Electric

Large investors have recently added to or reduced their stakes in the stock. LRI Investments LLC bought a new position in Portland General Electric in the first quarter valued at about $26,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Portland General Electric by 767.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 514 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Portland General Electric during the 2nd quarter worth approximately $33,000. Mather Group LLC. bought a new position in Portland General Electric in the 1st quarter valued at approximately $34,000. Finally, Hexagon Capital Partners LLC lifted its stake in Portland General Electric by 140.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 919 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 537 shares during the last quarter.

Portland General Electric Stock Down 1.6 %

NYSE:POR opened at $46.77 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. Portland General Electric has a 12-month low of $39.03 and a 12-month high of $49.45. The stock’s fifty day simple moving average is $47.53 and its 200-day simple moving average is $44.72. The firm has a market capitalization of $4.82 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.35 and a beta of 0.59.

Portland General Electric (NYSE:POR) last issued its 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. The firm 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%. The company’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. Equities research analysts expect that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s payout ratio is 76.63%.

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.