Portland General Electric (NYSE:POR) Receives $46.44 Average Price Target from Brokerages

Shares of Portland General Electric (NYSE:POR - Get Free Report) have received an average recommendation of "Hold" from the nine brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $46.44.

Several equities research analysts have recently commented on the stock. Bank of America decreased their target price on shares of Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a research report on Tuesday, December 24th. Barclays decreased their price objective on Portland General Electric from $48.00 to $42.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. UBS Group restated a "neutral" rating and issued a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Jefferies Financial Group cut their price target on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Finally, Evercore ISI upped their target price on Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th.

Insiders Place Their Bets

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On Portland General Electric

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC bought a new position in shares of Portland General Electric in the fourth quarter worth $27,000. Newbridge Financial Services Group Inc. purchased a new stake in Portland General Electric during the 4th quarter worth about $29,000. Allworth Financial LP boosted its stake in Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider's stock worth $30,000 after purchasing an additional 265 shares during the period. Versant Capital Management Inc grew its holdings in Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock valued at $33,000 after buying an additional 450 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in shares of Portland General Electric by 1,538.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock valued at $36,000 after buying an additional 769 shares during the period.

Portland General Electric Stock Down 0.1 %

NYSE:POR traded down $0.05 on Monday, hitting $44.31. The stock had a trading volume of 943,458 shares, compared to its average volume of 1,172,712. The company has a market cap of $4.85 billion, a PE ratio of 14.72, a P/E/G ratio of 1.11 and a beta of 0.61. Portland General Electric has a 52 week low of $39.49 and a 52 week high of $49.85. The business's fifty day moving average is $42.39 and its 200 day moving average is $45.59. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22.

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

Portland General Electric Announces Dividend

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

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.