Barclays Boosts Portland General Electric (NYSE:POR) Price Target to $47.00

Portland General Electric (NYSE:POR) had its price target increased by Barclays from $42.00 to $47.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other equities research analysts have also recently commented on the stock. Jefferies Financial Group lowered their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday, February 18th. Evercore ISI lifted their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Bank of America decreased their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. Finally, KeyCorp decreased their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Portland General Electric has an average rating of “Hold” and a consensus price target of $47.00.

Portland General Electric Trading Up 0.1 %

Shares of NYSE POR opened at $43.94 on Tuesday. Portland General Electric has a 1-year low of $40.05 and a 1-year high of $49.85. The company has a market cap of $4.80 billion, a PE ratio of 14.60, a P/E/G ratio of 1.11 and a beta of 0.61. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average of $42.46 and a two-hundred day moving average of $45.47.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The company had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. During the same quarter in the previous year, the company earned $0.67 EPS. As a group, equities analysts expect that Portland General Electric will post 3.21 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, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Monday, March 24th. Portland General Electric’s payout ratio is currently 66.45%.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

Institutional Trading of Portland General Electric

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Portland General Electric by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock worth $519,651,000 after purchasing an additional 572,531 shares in the last quarter. State Street Corp lifted its position in shares of Portland General Electric by 1.6% in the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock worth $199,509,000 after purchasing an additional 66,438 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Portland General Electric by 19.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider’s stock worth $172,720,000 after purchasing an additional 635,987 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Portland General Electric by 2.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider’s stock worth $145,403,000 after purchasing an additional 93,903 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Portland General Electric by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider’s stock worth $108,710,000 after purchasing an additional 47,172 shares in 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.