Portland General Electric (NYSE:POR) Lowered to “Equal Weight” at Barclays

Barclays lowered shares of Portland General Electric (NYSE:POR) from an overweight rating to an equal weight rating in a research note released on Wednesday, Marketbeat reports. The brokerage currently has $49.00 target price on the utilities provider’s stock, up from their prior target price of $48.00.

Other research analysts have also issued reports about the stock. KeyCorp upgraded shares of Portland General Electric from a sector weight rating to an overweight rating in a research report on Monday, July 22nd. Bank of America initiated coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They issued an underperform rating and a $47.00 price target on the stock. Finally, StockNews.com lowered shares of Portland General Electric from a hold rating to a sell rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $45.88.

Portland General Electric Trading Down 0.4 %

Shares of POR opened at $47.70 on Wednesday. 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 firm’s 50-day moving average is $47.37 and its two-hundred day moving average is $44.32. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $49.45. The firm has a market capitalization of $4.91 billion, a P/E ratio of 18.28, a PEG ratio of 1.38 and a beta of 0.59.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The company had revenue of $758.00 million for the quarter, compared to analyst estimates of $716.43 million. During the same period in the prior year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is currently 76.63%.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were 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 directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. Insiders have sold a total of 5,486 shares of company stock valued at $262,153 over the last quarter. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

A number of hedge funds have recently made changes to their positions in the business. Principal Securities Inc. acquired a new stake in Portland General Electric during the 4th quarter valued at $45,000. Dimensional Fund Advisors LP grew its holdings in Portland General Electric by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,420,243 shares of the utilities provider’s stock worth $61,554,000 after acquiring an additional 140,151 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Portland General Electric by 60.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,835 shares of the utilities provider’s stock valued at $426,000 after buying an additional 3,722 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Portland General Electric in the 4th quarter valued at about $451,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Portland General Electric by 189.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 16,074 shares of the utilities provider’s stock valued at $697,000 after buying an additional 10,520 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.