Brokerages Set Portland General Electric (NYSE:POR) Price Target at $47.00

Shares of Portland General Electric (NYSE:POR - Get Free Report) have been assigned an average rating of "Hold" from the nine analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $47.00.

A number of equities analysts recently issued reports on the stock. Barclays upped their price objective on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. LADENBURG THALM/SH SH downgraded Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price for the company. in a research report on Tuesday, February 18th. KeyCorp dropped 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. UBS Group reissued a "neutral" rating and set a $47.00 target price (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, Evercore ISI lifted their price target 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.

Portland General Electric Price Performance

Shares of Portland General Electric stock traded down $0.80 on Friday, reaching $42.62. 1,098,707 shares of the stock were exchanged, compared to its average volume of 918,236. The firm's 50 day moving average is $42.86 and its 200-day moving average is $45.15. The firm has a market cap of $4.67 billion, a PE ratio of 14.16, a P/E/G ratio of 1.11 and a beta of 0.55. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. Portland General Electric has a one year low of $40.05 and a one year high of $49.85.

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Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter last year, the business posted $0.67 EPS. As a group, analysts anticipate that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.69%. Portland General Electric's dividend payout ratio is currently 66.45%.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Portland General Electric

A number of large investors have recently bought and sold shares of POR. True Wealth Design LLC bought a new position in shares of Portland General Electric during the 4th quarter worth about $27,000. Newbridge Financial Services Group Inc. bought a new position in Portland General Electric in the fourth quarter worth approximately $29,000. Versant Capital Management Inc grew its stake in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 450 shares during the period. Cullen Frost Bankers Inc. increased its holdings 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 acquiring an additional 769 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Portland General Electric during the fourth quarter worth $52,000.

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.