Portland General Electric (NYSE:POR) PT Raised to $55.00 at JPMorgan Chase & Co.

Portland General Electric (NYSE:POR) had its price objective hoisted by JPMorgan Chase & Co. from $54.00 to $55.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other brokerages have also issued reports on POR. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Jefferies Financial Group started coverage on shares of Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 price target on the stock. Evercore ISI began coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price objective for the company. Barclays lowered shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $48.00 to $49.00 in a research note on Wednesday, September 18th. Finally, Bank of America assumed coverage on Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.25.

Portland General Electric Trading Down 1.0 %

NYSE:POR opened at $48.33 on Wednesday. The business’s 50-day moving average is $47.79 and its two-hundred day moving average is $45.42. The firm has a market capitalization of $4.98 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.37 and a beta of 0.59. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. Research analysts predict that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business 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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 68.73%.

Insider Buying and Selling

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

Institutional Trading of Portland General Electric

Several hedge funds have recently added to or reduced their stakes in POR. Gabelli Funds LLC increased its holdings in shares of Portland General Electric by 3.8% during the first quarter. Gabelli Funds LLC now owns 297,049 shares of the utilities provider’s stock valued at $12,476,000 after purchasing an additional 11,000 shares during the period. Jane Street Group LLC increased its stake in Portland General Electric by 274.5% during the 1st quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider’s stock valued at $8,303,000 after buying an additional 144,900 shares during the period. Edgestream Partners L.P. increased its stake in Portland General Electric by 299.1% during the 1st quarter. Edgestream Partners L.P. now owns 102,993 shares of the utilities provider’s stock valued at $4,326,000 after buying an additional 77,185 shares during the period. Clearbridge Investments LLC raised its position in shares of Portland General Electric by 13.1% during the 1st quarter. Clearbridge Investments LLC now owns 480,351 shares of the utilities provider’s stock worth $20,175,000 after buying an additional 55,555 shares in the last quarter. Finally, Cetera Advisors LLC lifted its stake in shares of Portland General Electric by 231.6% in the 1st quarter. Cetera Advisors LLC now owns 19,499 shares of the utilities provider’s stock worth $819,000 after acquiring an additional 13,618 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.