Barclays Cuts Portland General Electric (NYSE:POR) Price Target to $48.00

Portland General Electric (NYSE:POR) had its price objective cut by Barclays from $49.00 to $48.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Bank of America started coverage on Portland General Electric in a report on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price for the company. JPMorgan Chase & Co. increased their price objective on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Finally, Evercore ISI assumed coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $48.13.

Portland General Electric Price Performance

Portland General Electric stock opened at $47.42 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.21 and a beta of 0.59. The business has a 50-day simple moving average of $47.85 and a 200 day simple moving average of $45.60. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The company’s revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 EPS. On average, research analysts forecast that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Insider Activity at Portland General Electric

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 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 of the company’s stock, valued at $1,045,527.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 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 of the company’s stock, valued at $1,045,527.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Institutional Trading of Portland General Electric

Institutional investors and hedge funds have recently modified their holdings of the business. Gabelli Funds LLC increased its holdings in shares of Portland General Electric by 3.8% in the 1st quarter. Gabelli Funds LLC now owns 297,049 shares of the utilities provider’s stock worth $12,476,000 after purchasing an additional 11,000 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Portland General Electric by 274.5% in the 1st quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider’s stock worth $8,303,000 after purchasing an additional 144,900 shares in the last quarter. Edgestream Partners L.P. increased its holdings in shares of Portland General Electric by 299.1% in the 1st quarter. Edgestream Partners L.P. now owns 102,993 shares of the utilities provider’s stock worth $4,326,000 after purchasing an additional 77,185 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Portland General Electric by 13.1% in the 1st quarter. Clearbridge Investments LLC now owns 480,351 shares of the utilities provider’s stock worth $20,175,000 after purchasing an additional 55,555 shares in the last quarter. Finally, Cetera Advisors LLC increased its holdings 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 purchasing an additional 13,618 shares in the last quarter.

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.