Portland General Electric (NYSE:POR) Downgraded by Barclays

by · The Markets Daily

Barclays downgraded shares of Portland General Electric (NYSE:POR – Free Report) from an overweight rating to an equal weight rating in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has $49.00 price target on the utilities provider’s stock, up from their prior price target of $48.00.

Several other equities analysts have also recently commented on the stock. StockNews.com cut shares of Portland General Electric from a hold rating to a sell rating in a research note on Friday, September 6th. Bank of America assumed coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an underperform rating and a $47.00 price target for the company. Finally, KeyCorp upgraded 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 assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $45.88.

Read Our Latest Stock Analysis on POR

Portland General Electric Stock Down 0.4 %

Portland General Electric stock opened at $47.70 on Wednesday. The firm has a 50 day simple moving average of $47.37 and a 200 day simple moving average of $44.35. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $49.45. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.38 and a beta of 0.59.

Portland General Electric (NYSE:POR – Get Free Report) last announced its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share. On average, analysts predict that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Announces Dividend

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

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the business’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 completion of 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 filing with the SEC, which is available at this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the transaction, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. The disclosure for this sale can be found here. Insiders have sold 5,486 shares of company stock worth $262,153 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Portland General Electric

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Portland General Electric by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock worth $483,069,000 after buying an additional 212,981 shares during the period. Goldman Sachs Group Inc. grew its holdings in 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 worth $196,089,000 after acquiring an additional 1,017,503 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Portland General Electric by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after acquiring an additional 86,718 shares during the period. HITE Hedge Asset Management LLC raised its stake in shares of Portland General Electric by 7.1% during the second quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock valued at $64,216,000 after acquiring an additional 97,922 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Portland General Electric by 24.5% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,265,745 shares of the utilities provider’s stock worth $54,857,000 after purchasing an additional 249,350 shares during the period.

About Portland General Electric

(Get Free Report)

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.

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