Portland General Electric (NYSE:POR) Price Target Raised to $47.00

Portland General Electric (NYSE:POR) had its price target increased by Barclays from $42.00 to $47.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.

POR has been the topic of a number of other reports. UBS Group reiterated a “neutral” rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Bank of America lowered their target price on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research note on Tuesday, December 24th. Jefferies Financial Group decreased their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 18th. Finally, Evercore ISI raised their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.00.

Portland General Electric Stock Performance

NYSE:POR opened at $43.94 on Tuesday. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The firm’s fifty day simple moving average is $42.46 and its 200 day simple moving average is $45.47. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $4.80 billion, a PE ratio of 14.60, a PEG ratio of 1.11 and a beta of 0.61.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The business had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same period last year, the business posted $0.67 EPS. On average, sell-side analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Monday, March 24th. Portland General Electric’s payout ratio is 66.45%.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the transaction, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Portland General Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in POR. Arizona State Retirement System lifted its holdings in Portland General Electric by 0.8% during the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider’s stock valued at $1,305,000 after purchasing an additional 245 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Portland General Electric by 3.2% during the 4th quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider’s stock valued at $379,000 after purchasing an additional 269 shares during the last quarter. OneDigital Investment Advisors LLC lifted its holdings in Portland General Electric by 4.2% during the 4th quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider’s stock valued at $318,000 after purchasing an additional 291 shares during the last quarter. Texas Yale Capital Corp. lifted its holdings in Portland General Electric by 2.6% during the 4th quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider’s stock valued at $520,000 after purchasing an additional 300 shares during the last quarter. Finally, Choreo LLC lifted its holdings in Portland General Electric by 1.4% during the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock valued at $1,166,000 after purchasing an additional 371 shares during the last quarter.

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.