Portland General Electric (NYSE:POR) Downgraded by StockNews.com

StockNews.com downgraded shares of Portland General Electric (NYSE:POR) from a hold rating to a sell rating in a research report released on Wednesday.

POR has been the subject of several other research reports. Mizuho boosted their price objective on Portland General Electric from $42.00 to $45.00 and gave the stock a neutral rating in a report on Thursday, May 16th. Barclays boosted their price target on shares of Portland General Electric from $44.00 to $48.00 and gave the stock an overweight rating in a research note on Monday, July 22nd. Finally, KeyCorp upgraded shares of Portland General Electric from a sector weight rating to an overweight rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $44.86.

Portland General Electric Stock Performance

Portland General Electric stock opened at $48.11 on Wednesday. The firm’s 50 day simple moving average is $45.77 and its 200 day simple moving average is $43.53. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $48.62. The firm has a market capitalization of $4.96 billion, a PE ratio of 18.43 and a beta of 0.58.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The company had revenue of $758.00 million for the quarter, compared to the consensus estimate of $716.43 million. During the same quarter last year, the business posted $0.44 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. As a group, analysts expect that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s payout ratio is currently 76.63%.

Insider Transactions at Portland General Electric

In related news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the sale, the vice president now directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the sale, the vice president now directly owns 22,606 shares in the company, valued at $1,045,527.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Benjamin Felton sold 1,886 shares of Portland General Electric stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total value of $90,528.00. Following the completion of the sale, the chief operating officer now owns 30,142 shares in the company, valued at $1,446,816. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its stake in Portland General Electric by 4,233.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,820 shares of the utilities provider’s stock worth $79,000 after buying an additional 1,778 shares in the last quarter. Signaturefd LLC raised its position in shares of Portland General Electric by 59.6% in the 4th quarter. Signaturefd LLC now owns 2,073 shares of the utilities provider’s stock worth $90,000 after acquiring an additional 774 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Portland General Electric in the 4th quarter valued at approximately $38,000. State of New Jersey Common Pension Fund D boosted its position in shares of Portland General Electric by 7.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 60,564 shares of the utilities provider’s stock valued at $2,625,000 after purchasing an additional 4,078 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in Portland General Electric by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 126,652 shares of the utilities provider’s stock worth $5,489,000 after purchasing an additional 423 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.