Portland General Electric (NYSE:POR) Stock Price Expected to Rise, Barclays Analyst Says

Portland General Electric (NYSE:POR - Free Report) had its price objective hoisted by Barclays from $42.00 to $47.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider's stock.

Other equities analysts have also issued research reports about the stock. UBS Group reaffirmed a "neutral" rating and set a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Evercore ISI boosted their price objective on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. KeyCorp reduced their target price on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. Bank of America lowered their price target on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a research note on Tuesday, December 24th. Finally, Jefferies Financial Group cut their price target 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $47.00.

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Portland General Electric Stock Performance

POR traded up $0.59 during trading on Tuesday, hitting $44.51. The stock had a trading volume of 1,167,963 shares, compared to its average volume of 1,171,995. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The company has a 50 day simple moving average of $42.46 and a 200-day simple moving average of $45.47. The firm has a market cap of $4.87 billion, a PE ratio of 14.79, a P/E/G ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $824.00 million during the quarter, compared to analysts' expectations of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same quarter in the previous year, the firm earned $0.67 EPS. Analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.49%. Portland General Electric's payout ratio is presently 66.45%.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the transaction, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Portland General Electric

Several large investors have recently made changes to their positions in POR. Norges Bank acquired a new position in Portland General Electric in the fourth quarter valued at about $62,004,000. Zimmer Partners LP increased its holdings in shares of Portland General Electric by 107.0% during the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider's stock worth $88,258,000 after buying an additional 952,214 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Portland General Electric in the fourth quarter valued at approximately $32,553,000. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Portland General Electric by 19.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock worth $172,720,000 after acquiring an additional 635,987 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Portland General Electric by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock worth $519,651,000 after acquiring an additional 572,531 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.