Portland General Electric (NYSE:POR) Given New $48.00 Price Target at Barclays

Portland General Electric (NYSE:POR) had its target price hoisted by Barclays from $44.00 to $48.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other equities research analysts also recently issued reports on POR. StockNews.com upgraded shares of Portland General Electric from a sell rating to a hold rating in a research note on Tuesday, April 30th. KeyCorp raised shares of Portland General Electric from a sector weight rating to an overweight rating in a report on Monday. Finally, Mizuho increased their target price on shares of Portland General Electric from $42.00 to $45.00 and gave the stock a neutral rating in a report on Thursday, May 16th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Portland General Electric currently has a consensus rating of Moderate Buy and an average target price of $44.86.

Portland General Electric Price Performance

NYSE:POR opened at $47.70 on Monday. Portland General Electric has a one year low of $38.01 and a one year high of $49.72. The company has a market cap of $4.91 billion, a P/E ratio of 18.28 and a beta of 0.58. The firm’s fifty day moving average price is $43.85 and its two-hundred day moving average price is $42.41. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.22 and a quick ratio of 1.09.

Portland General Electric (NYSE:POR) last released its quarterly 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. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The business had revenue of $929.00 million for the quarter, compared to the consensus estimate of $828.94 million. During the same period in the prior year, the company posted $0.80 earnings per share. Portland General Electric’s revenue was up 24.2% compared to the same quarter last year. Equities analysts expect that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.00 annualized dividend and a yield of 4.19%. Portland General Electric’s dividend payout ratio is presently 76.63%.

Insider Buying and Selling

In related news, VP Brett Michael Sims sold 963 shares of Portland General Electric stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total transaction of $43,363.89. Following the sale, the vice president now directly owns 13,996 shares in the company, valued at approximately $630,239.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Brett Michael Sims sold 963 shares of Portland General Electric stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total transaction of $43,363.89. Following the sale, the vice president now directly owns 13,996 shares in the company, valued at approximately $630,239.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Maria Angelica Espinosa sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total transaction of $88,600.00. Following the completion of the transaction, the senior vice president now owns 16,763 shares in the company, valued at approximately $742,600.90. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of POR. Channing Capital Management LLC acquired a new position in shares of Portland General Electric in the 4th quarter worth approximately $49,763,000. Goldman Sachs Group Inc. increased its stake in shares of Portland General Electric by 29.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock valued at $196,089,000 after acquiring an additional 1,017,503 shares in the last quarter. Norges Bank bought a new stake in shares of Portland General Electric in the 4th quarter valued at $39,112,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Portland General Electric in the 2nd quarter valued at $31,557,000. Finally, Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of Portland General Electric in the 4th quarter valued at $17,460,000.

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.