Portland General Electric (NYSE:POR) Lowered to Neutral Rating by LADENBURG THALM/SH SH

LADENBURG THALM/SH SH lowered shares of Portland General Electric (NYSE:POR - Free Report) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have $42.00 target price on the utilities provider's stock.

POR has been the topic of several other research reports. UBS Group reiterated a "neutral" rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Barclays dropped their price target on Portland General Electric from $48.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Jefferies Financial Group decreased their price objective on Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. KeyCorp decreased their price objective on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, December 4th. Finally, Bank of America decreased their price objective on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a report on Tuesday, December 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $46.44.

Portland General Electric Stock Up 1.3 %

POR stock traded up $0.56 on Tuesday, hitting $44.36. 1,020,832 shares of the company's stock were exchanged, compared to its average volume of 1,182,771. Portland General Electric has a 12-month low of $39.49 and a 12-month high of $49.85. The firm has a 50 day moving average price of $42.39 and a two-hundred day moving average price of $45.61. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The stock has a market cap of $4.85 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 1.10 and a beta of 0.61.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same period in the previous year, the business earned $0.67 EPS. As a group, equities research analysts expect that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.51%. Portland General Electric's payout ratio is 66.45%.

Insider Buying and Selling

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the transaction, the chief financial officer now owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Portland General Electric

A number of hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in shares of Portland General Electric by 0.8% during the fourth quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock valued at $1,305,000 after acquiring an additional 245 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 265 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Portland General Electric by 3.2% during the fourth quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider's stock valued at $379,000 after acquiring an additional 269 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Portland General Electric by 4.2% during the fourth quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider's stock valued at $318,000 after acquiring an additional 291 shares during the last quarter. Finally, Texas Yale Capital Corp. raised its holdings in shares of Portland General Electric by 2.6% during the fourth quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider's stock valued at $520,000 after acquiring an additional 300 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.