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

Portland General Electric (NYSE:POR - Get Free Report) has been given a consensus rating of "Hold" by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $49.13.

Several equities analysts recently weighed in on POR shares. Barclays reduced their target price on shares of Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. KeyCorp decreased their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, December 4th. Bank of America initiated coverage on shares of Portland General Electric in a report on Thursday, September 12th. They set an "underperform" rating and a $47.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on shares of Portland General Electric in a report on Friday, September 20th. They set a "hold" rating and a $48.00 target price for the company.

Portland General Electric Trading Down 0.9 %

NYSE:POR traded down $0.43 during trading hours on Wednesday, reaching $45.16. 864,617 shares of the stock were exchanged, compared to its average volume of 943,512. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85. The business has a 50-day moving average of $47.22 and a two-hundred day moving average of $46.28. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.17 and a beta of 0.59.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. Portland General Electric's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 earnings per share. On average, equities analysts predict that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.43%. Portland General Electric's payout ratio is presently 59.70%.

Institutional Trading of Portland General Electric

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its holdings in Portland General Electric by 477.9% during the 2nd quarter. SG Americas Securities LLC now owns 40,420 shares of the utilities provider's stock valued at $1,748,000 after purchasing an additional 33,426 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Portland General Electric by 7.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,694 shares of the utilities provider's stock worth $506,000 after buying an additional 784 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Portland General Electric by 6.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,313 shares of the utilities provider's stock valued at $446,000 after purchasing an additional 631 shares during the period. Assenagon Asset Management S.A. acquired a new position in Portland General Electric during the second quarter valued at approximately $4,462,000. Finally, Blue Trust Inc. boosted its holdings in shares of Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider's stock valued at $39,000 after buying an additional 451 shares during the period.

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.