Portland General Electric (NYSE:POR) Reaches New 12-Month High at $49.28

Portland General Electric (NYSE:POR) hit a new 52-week high during trading on Tuesday . The company traded as high as $49.28 and last traded at $49.24, with a volume of 33583 shares. The stock had previously closed at $49.09.

Analyst Ratings Changes

A number of brokerages have recently weighed in on POR. Bank of America started coverage on Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. Barclays upped their price objective on shares of Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Finally, KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.43.

Portland General Electric Price Performance

The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. The stock has a market capitalization of $5.03 billion, a P/E ratio of 18.76 and a beta of 0.59. The stock’s fifty day moving average is $47.02 and its 200-day moving average is $44.16.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the company posted $0.44 EPS. The firm’s revenue was up 17.0% on a year-over-year basis. On average, equities analysts anticipate that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is 76.63%.

Insider Transactions at Portland General Electric

In other news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was 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 of the company’s stock, valued at $1,045,527.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 22,606 shares in the company, valued at $1,045,527.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,486 shares of company stock worth $262,153. 0.54% of the stock is owned by insiders.

Institutional Trading of Portland General Electric

Institutional investors and hedge funds have recently modified their holdings of the company. Johnson Financial Group Inc. acquired a new stake in Portland General Electric during the fourth quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV boosted its stake in Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after buying an additional 514 shares in the last quarter. LRI Investments LLC bought a new stake in Portland General Electric in the first quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Portland General Electric during the second quarter worth $33,000. Finally, Mather Group LLC. bought a new position in shares of Portland General Electric during the first quarter valued at $34,000.

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.