Portland General Electric (NYSE:POR) Receives Consensus Rating of “Hold” from Brokerages

Portland General Electric (NYSE:POR) has earned an average recommendation of “Hold” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $48.88.

POR has been the subject of a number of research analyst reports. KeyCorp lowered 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 research report on Wednesday, December 4th. Bank of America cut their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. JPMorgan Chase & Co. upped their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Evercore ISI started coverage on Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target on the stock. Finally, UBS Group reiterated a “neutral” rating and issued a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in POR. State Street Corp grew its stake in 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. Geode Capital Management LLC increased its stake in shares of 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 valued at $117,114,000 after acquiring an additional 25,332 shares in the last quarter. Zimmer Partners LP lifted its position in shares of Portland General Electric by 107.0% during 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 boosted its stake 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 worth $65,234,000 after acquiring an additional 86,718 shares in the last quarter. Finally, HITE Hedge Asset Management LLC grew its holdings in Portland General Electric by 7.1% in 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.

Portland General Electric Stock Performance

Shares of NYSE:POR opened at $40.62 on Friday. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.13 and a beta of 0.60. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The company’s 50 day simple moving average is $45.38 and its 200 day simple moving average is $46.33.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $929.00 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 EPS. As a group, research analysts predict that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Announces Dividend

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

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.