Portland General Electric (NYSE:POR) Sets New 52-Week High at $49.28

Portland General Electric (NYSE:POR)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $49.28 and last traded at $49.24, with a volume of 33583 shares. The stock had previously closed at $49.09.

Analyst Upgrades and Downgrades

POR has been the subject of several recent analyst reports. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Barclays increased their target price on Portland General Electric from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Finally, Bank of America initiated coverage on Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $45.43.

Portland General Electric Stock Performance

The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 18.76 and a beta of 0.59. The stock has a 50-day moving average of $47.02 and a 200 day moving average of $44.16.

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

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.10%. Portland General Electric’s payout ratio is currently 76.63%.

Insider Activity

In other Portland General Electric news, COO Benjamin Felton sold 1,886 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the sale, the chief operating officer now directly owns 30,142 shares in the company, valued at $1,446,816. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Benjamin Felton sold 1,886 shares of Portland General Electric stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the transaction, the chief operating officer now owns 30,142 shares in the company, valued at approximately $1,446,816. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. The disclosure for this sale can be found here. Insiders sold a total of 5,486 shares of company stock valued at $262,153 in the last ninety days. 0.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Portland General Electric

Several institutional investors have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. acquired a new stake in shares of Portland General Electric in the 4th quarter valued at about $25,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after buying an additional 514 shares in the last quarter. LRI Investments LLC acquired a new stake in Portland General Electric in the 1st quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new stake in Portland General Electric in the 2nd quarter valued at approximately $33,000. Finally, Mather Group LLC. acquired a new position in Portland General Electric during the 1st quarter worth approximately $34,000.

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.