Portland General Electric (NYSE:POR) Price Target Raised to $55.00 at JPMorgan Chase & Co.

Portland General Electric (NYSE:POR - Free Report) had its price target raised by JPMorgan Chase & Co. from $54.00 to $55.00 in a research report report published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the utilities provider's stock.

A number of other research firms have also recently commented on POR. StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday, September 24th. KeyCorp raised Portland General Electric from a "sector weight" rating to an "overweight" rating in a report on Monday, July 22nd. Jefferies Financial Group assumed coverage on Portland General Electric in a report on Friday, September 20th. They set a "hold" rating and a $48.00 price target on the stock. Evercore ISI assumed coverage on Portland General Electric in a research report on Wednesday, September 25th. They set an "outperform" rating and a $54.00 price objective for the company. Finally, Barclays lowered 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. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $48.25.

Portland General Electric Stock Performance

Portland General Electric stock traded up $0.45 during trading on Wednesday, reaching $49.00. The company had a trading volume of 765,525 shares, compared to its average volume of 947,578. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.45. The firm's 50-day simple moving average is $47.65 and its 200 day simple moving average is $45.32. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 1.36 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.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. Sell-side analysts forecast that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.08%. Portland General Electric's dividend payout ratio is currently 76.63%.

Insider Buying and Selling

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 of the company's stock, valued at approximately $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the company's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the sale, the vice president now owns 22,606 shares in the company, valued at $1,045,527.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now owns 14,263 shares of the company's stock, valued at approximately $688,902.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Institutional Trading of Portland General Electric

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Portland General Electric by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider's stock valued at $483,069,000 after purchasing an additional 212,981 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Portland General Electric by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider's stock valued at $65,234,000 after purchasing an additional 86,718 shares during the last quarter. HITE Hedge Asset Management LLC lifted its holdings in shares of Portland General Electric by 7.1% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider's stock valued at $64,216,000 after purchasing an additional 97,922 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Portland General Electric by 6.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider's stock valued at $46,561,000 after purchasing an additional 69,392 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Portland General Electric by 1.0% during the 1st quarter. ProShare Advisors LLC now owns 948,014 shares of the utilities provider's stock valued at $39,817,000 after purchasing an additional 9,786 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.