Portland General Electric (NYSE:POR) Given Neutral Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Portland General Electric (NYSE:POR - Free Report) in a research note published on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a $44.00 price target on the utilities provider's stock, down from their prior price target of $50.00.

Several other equities research analysts have also recently issued reports on the company. Bank of America cut their price target on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a research note on Tuesday, December 24th. 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 research report on Tuesday, February 18th. Jefferies Financial Group decreased their price target on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. 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. Finally, UBS Group reissued a "neutral" rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Portland General Electric currently has a consensus rating of "Hold" and an average target price of $45.78.

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Portland General Electric Stock Performance

Portland General Electric stock traded up $0.15 during trading hours on Thursday, hitting $43.40. The company had a trading volume of 476,257 shares, compared to its average volume of 1,028,283. The firm has a 50-day moving average of $43.38 and a 200 day moving average of $44.56. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The firm has a market cap of $4.75 billion, a PE ratio of 14.42, a PEG ratio of 1.11 and a beta of 0.49. Portland General Electric has a one year low of $40.05 and a one year high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly 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. 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 period last year, the firm posted $0.67 EPS. On average, sell-side analysts expect that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.61%. Portland General Electric's dividend payout ratio (DPR) is presently 66.45%.

Insider Activity

In other Portland General Electric 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 $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of Portland General Electric

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted 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 buying an additional 572,531 shares during the period. State Street Corp lifted its holdings in shares of Portland General Electric by 1.6% during the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider's stock worth $199,509,000 after purchasing an additional 66,438 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Portland General Electric by 19.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock worth $172,720,000 after purchasing an additional 635,987 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Portland General Electric by 2.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider's stock valued at $145,403,000 after purchasing an additional 93,903 shares during the period. Finally, Geode Capital Management LLC raised its position in Portland General Electric by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider's stock worth $108,710,000 after purchasing an additional 47,172 shares during the last quarter.

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.