Portland General Electric (NYSE:POR) Given Consensus Rating of “Hold” by Analysts

Portland General Electric (NYSE:POR) has earned a consensus rating of “Hold” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $48.88.

Several analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. JPMorgan Chase & Co. increased their price target on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group reaffirmed a “neutral” rating and set a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. KeyCorp lowered 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 report on Wednesday, December 4th. Finally, Bank of America cut their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $40.62 on Friday. The stock’s 50 day moving average is $45.38 and its 200-day moving average is $46.33. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85. 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 firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.13 and a beta of 0.60.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 10.30% and a return on equity of 10.28%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. Sell-side analysts forecast that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.92%. Portland General Electric’s payout ratio is currently 59.70%.

Hedge Funds Weigh In On Portland General Electric

Institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Portland General Electric by 1.6% in the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after buying an additional 66,438 shares during the period. Geode Capital Management LLC increased its holdings in Portland General Electric by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after acquiring an additional 25,332 shares during the last quarter. Zimmer Partners LP raised its stake in Portland General Electric by 107.0% in the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after acquiring an additional 952,214 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Portland General Electric by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after purchasing an additional 86,718 shares during the last quarter. Finally, HITE Hedge Asset Management LLC boosted its position in Portland General Electric by 7.1% during the second quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock worth $64,216,000 after purchasing an additional 97,922 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.