Portland General Electric (NYSE:POR) Upgraded at StockNews.com

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

Other equities analysts have also recently issued reports about the company. KeyCorp upgraded Portland General Electric from a sector weight rating to an overweight rating in a research note on Monday, July 22nd. Bank of America began coverage on shares of Portland General Electric in a report on Thursday, September 12th. They set an underperform rating and a $47.00 price objective for the company. Jefferies Financial Group began coverage on shares of Portland General Electric in a research report on Friday, September 20th. They set a hold rating and a $48.00 price target on the stock. Finally, Barclays lowered Portland General Electric from an overweight rating to an equal weight rating and boosted their price objective for the company from $48.00 to $49.00 in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $46.78.

Portland General Electric Price Performance

POR opened at $48.09 on Tuesday. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $49.45. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.36 and a beta of 0.59. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The company has a fifty day simple moving average of $47.49 and a 200 day simple moving average of $44.51.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $716.43 million. During the same period last year, the firm earned $0.44 earnings per share. The company’s revenue was up 17.0% on a year-over-year basis. Equities research analysts expect that Portland General Electric will post 3.08 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.16%. Portland General Electric’s dividend payout ratio (DPR) is 76.63%.

Insider Activity at Portland General Electric

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the sale, the vice president now directly owns 22,606 shares in the company, valued at $1,045,527.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Benjamin Felton sold 1,886 shares of the company’s 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 completion of the transaction, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. The disclosure for this sale can be found here. Insiders sold 5,486 shares of company stock valued at $262,153 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Portland General Electric

Several hedge funds have recently modified their holdings of the stock. Johnson Financial Group Inc. purchased a new position in Portland General Electric in the 4th quarter worth about $25,000. LRI Investments LLC acquired a new position in shares of Portland General Electric in the first quarter worth about $26,000. Massmutual Trust Co. FSB ADV increased its position in shares of Portland General Electric by 767.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 514 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Portland General Electric during the second quarter valued at approximately $33,000. Finally, Mather Group LLC. purchased a new stake in shares of Portland General Electric in the 1st quarter valued at approximately $34,000.

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.