Barclays Issues Pessimistic Forecast for Portland General Electric (NYSE:POR) Stock Price

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

A number of other analysts have also weighed in on POR. Jefferies Financial Group initiated coverage on Portland General Electric in a research note on Friday, September 20th. They set a “hold” rating and a $48.00 price objective for the company. Evercore ISI initiated coverage on Portland General Electric in a research note on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price objective for the company. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Bank of America initiated coverage on Portland General Electric in a research note on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective for the company. Finally, KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Portland General Electric presently has a consensus rating of “Hold” and an average target price of $48.13.

Portland General Electric Stock Down 2.7 %

Shares of NYSE POR opened at $46.10 on Tuesday. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.21 and a beta of 0.59. The business has a 50-day moving average of $47.82 and a 200-day moving average of $45.64.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The company had revenue of $929.00 million during 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%. Portland General Electric’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Sell-side analysts expect that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.34%. Portland General Electric’s dividend payout ratio (DPR) is 59.70%.

Insiders Place Their Bets

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the transaction, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was 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 $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now owns 22,606 shares of the company’s stock, valued at $1,045,527.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Portland General Electric

Institutional investors have recently modified their holdings of the business. Gabelli Funds LLC boosted its position in shares of Portland General Electric by 3.8% during the first quarter. Gabelli Funds LLC now owns 297,049 shares of the utilities provider’s stock valued at $12,476,000 after buying an additional 11,000 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Portland General Electric by 274.5% during the first quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider’s stock valued at $8,303,000 after buying an additional 144,900 shares during the last quarter. Edgestream Partners L.P. boosted its position in shares of Portland General Electric by 299.1% during the first quarter. Edgestream Partners L.P. now owns 102,993 shares of the utilities provider’s stock valued at $4,326,000 after buying an additional 77,185 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Portland General Electric by 13.1% during the first quarter. Clearbridge Investments LLC now owns 480,351 shares of the utilities provider’s stock valued at $20,175,000 after buying an additional 55,555 shares during the last quarter. Finally, Cetera Advisors LLC boosted its position in shares of Portland General Electric by 231.6% during the first quarter. Cetera Advisors LLC now owns 19,499 shares of the utilities provider’s stock valued at $819,000 after buying an additional 13,618 shares during the last quarter.

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.