Barclays Lowers Portland General Electric (NYSE:POR) Price Target to $48.00

Portland General Electric (NYSE:POR) had its price target reduced by Barclays from $49.00 to $48.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

POR has been the topic of several other reports. Bank of America initiated coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective on the stock. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Jefferies Financial Group initiated coverage on Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective 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. Finally, Evercore ISI initiated coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.13.

Portland General Electric Price Performance

NYSE POR opened at $47.42 on Tuesday. The company has a market capitalization of $5.00 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.21 and a beta of 0.59. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The business’s fifty day moving average is $47.85 and its 200 day moving average is $45.60. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. The company had revenue of $929.00 million for 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 quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. Sell-side analysts predict that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.22%. Portland General Electric’s dividend payout ratio (DPR) is 59.70%.

Insiders Place Their Bets

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at $1,045,527.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the transaction, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of POR. Hexagon Capital Partners LLC grew its stake in shares of Portland General Electric by 140.6% during the first quarter. Hexagon Capital Partners LLC now owns 919 shares of the utilities provider’s stock valued at $39,000 after buying an additional 537 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of Portland General Electric by 2.1% in the first quarter. State of Michigan Retirement System now owns 24,800 shares of the utilities provider’s stock valued at $1,042,000 after purchasing an additional 500 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Portland General Electric by 0.3% in the first quarter. Retirement Systems of Alabama now owns 126,987 shares of the utilities provider’s stock valued at $5,333,000 after purchasing an additional 335 shares during the period. Private Advisor Group LLC purchased a new stake in shares of Portland General Electric in the first quarter valued at approximately $519,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Portland General Electric by 10.0% in the first quarter. BNP Paribas Financial Markets now owns 59,610 shares of the utilities provider’s stock valued at $2,504,000 after purchasing an additional 5,428 shares during the period.

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.