Portland General Electric (NYSE:POR) Sees Large Volume Increase

Portland General Electric (NYSE:POR) shares saw an uptick in trading volume on Monday . 1,198,700 shares traded hands during trading, an increase of 22% from the previous session’s volume of 983,220 shares.The stock last traded at $44.03 and had previously closed at $43.77.

Analysts Set New Price Targets

A number of research firms recently weighed in on POR. Mizuho reissued a “neutral” rating and set a $42.00 target price (down from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $47.00 to $45.00 in a report on Monday, January 29th. Bank of America lowered Portland General Electric from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $55.00 to $43.00 in a report on Monday, February 5th. Finally, Barclays decreased their price objective on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.13.

Portland General Electric Trading Down 0.8 %

The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $4.54 billion, a P/E ratio of 16.92 and a beta of 0.56. The firm has a 50-day moving average of $41.76 and a two-hundred day moving average of $41.63.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.09 by $0.12. The firm had revenue of $929.00 million during the quarter, compared to the consensus estimate of $828.94 million. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The business’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. On average, analysts anticipate that Portland General Electric will post 3.08 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, May 24th will be paid a $0.50 dividend. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, June 21st. This represents a $2.00 annualized dividend and a dividend yield of 4.54%. Portland General Electric’s dividend payout ratio is presently 72.80%.

Insider Activity

In other news, COO Benjamin Felton sold 3,500 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the sale, the chief operating officer now owns 31,950 shares of the company’s stock, valued at $1,297,170. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Maria Angelica Espinosa sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total transaction of $88,600.00. Following the completion of the sale, the senior vice president now owns 16,763 shares of the company’s stock, valued at approximately $742,600.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Benjamin Felton sold 3,500 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total transaction of $142,100.00. Following the transaction, the chief operating officer now directly owns 31,950 shares in the company, valued at $1,297,170. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,940 shares of company stock valued at $248,313. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

Several institutional investors have recently made changes to their positions in POR. ProShare Advisors LLC raised its holdings in Portland General Electric by 1.0% during the first quarter. ProShare Advisors LLC now owns 948,014 shares of the utilities provider’s stock worth $39,817,000 after buying an additional 9,786 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Portland General Electric by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 202,334 shares of the utilities provider’s stock valued at $8,498,000 after acquiring an additional 12,558 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Portland General Electric by 4.1% during the 1st quarter. Russell Investments Group Ltd. now owns 140,826 shares of the utilities provider’s stock valued at $5,915,000 after purchasing an additional 5,603 shares during the last quarter. SG Americas Securities LLC increased its holdings in Portland General Electric by 25.9% during the 1st quarter. SG Americas Securities LLC now owns 6,994 shares of the utilities provider’s stock worth $294,000 after purchasing an additional 1,439 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in shares of Portland General Electric by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 88,397 shares of the utilities provider’s stock worth $3,713,000 after purchasing an additional 1,168 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.