Portland General Electric (NYSE:POR) Now Covered by Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Portland General Electric (NYSE:POR) in a research note published on Friday morning, Marketbeat reports. The firm issued a hold rating and a $48.00 price objective on the utilities provider’s stock.

Other equities analysts have also issued reports about the company. StockNews.com lowered Portland General Electric from a hold rating to a sell rating in a report on Friday, September 6th. Bank of America started coverage on Portland General Electric in a research note on Thursday, September 12th. They set an underperform rating and a $47.00 price target for the company. Barclays cut Portland General Electric from an overweight rating to an equal weight rating and boosted their price objective for the company from $48.00 to $49.00 in a research note on Wednesday, September 18th. Finally, KeyCorp upgraded shares of Portland General Electric from a sector weight rating to an overweight rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $45.88.

Portland General Electric Price Performance

Portland General Electric stock opened at $48.08 on Friday. The stock has a market cap of $4.95 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.38 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. The company’s 50 day moving average price is $47.43 and its two-hundred day moving average price is $44.42. Portland General Electric has a 52 week low of $38.01 and a 52 week high of $49.45.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm 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 earned $0.44 EPS. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities analysts predict that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Dividend Announcement

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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s payout ratio is 76.63%.

Insider Activity

In related news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Portland General Electric 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 owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,486 shares of company stock worth $262,153. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On Portland General Electric

A number of institutional investors have recently made changes to their positions in POR. Johnson Financial Group Inc. bought a new position in Portland General Electric in the fourth quarter valued at $25,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Portland General Electric by 767.2% during 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 1st quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in Portland General Electric in the second quarter worth approximately $33,000. Finally, Mather Group LLC. bought a new position in Portland General Electric during the first quarter valued at approximately $34,000.

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.