Portland General Electric Company (NYSE:POR) Stock Has Average Price Target of $50.15

Portland General Electric Company (NYSE:POR) has received a consensus recommendation of “Hold” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $50.15.

Several equities research analysts have recently issued reports on POR shares. KeyCorp reaffirmed a “sector weight” rating on shares of Portland General Electric in a research report on Thursday, September 24th. UBS Group cut their price objective on Portland General Electric from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, September 28th. Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. BMO Capital Markets dropped their price objective on shares of Portland General Electric from $52.00 to $47.00 and set a “market perform” rating on the stock in a report on Wednesday, September 30th. Finally, LADENBURG THALM/SH SH raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 price objective for the company in a research report on Thursday, August 13th.

Portland General Electric Stock Down 1.6%

POR stock opened at $43.44 on Friday. Portland General Electric has a one year low of $43.26 and a one year high of $54.62. The stock has a market capitalization of $5.11 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.93 and a beta of 0.49. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.98. The company has a fifty day moving average of $47.47 and a 200-day moving average of $49.74.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). The business had revenue of $814.00 million during the quarter, compared to analysts’ expectations of $839.75 million. Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 EPS. As a group, analysts expect that Portland General Electric will post 3.35 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Friday, September 25th were given a dividend of $0.5513 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $2.21 dividend on an annualized basis and a yield of 5.1%. Portland General Electric’s dividend payout ratio is 96.92%.

Insider Activity

In other news, Director Michael Lewis sold 1,537 shares of Portland General Electric stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $51.83, for a total value of $79,662.71. Following the sale, the director directly owned 15,045 shares in the company, valued at $779,782.35. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC grew its stake in shares of Portland General Electric by 18.8% during the 1st quarter. Sterling Capital Management LLC now owns 127,496 shares of the utilities provider’s stock worth $6,728,000 after acquiring an additional 20,147 shares during the period. Engineers Gate Manager LP increased its holdings in Portland General Electric by 323.2% in the 2nd quarter. Engineers Gate Manager LP now owns 80,264 shares of the utilities provider’s stock worth $4,160,000 after acquiring an additional 61,297 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Portland General Electric by 40.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 264,569 shares of the utilities provider’s stock worth $13,714,000 after acquiring an additional 75,775 shares during the last quarter. State Street Corp increased its holdings in Portland General Electric by 8.0% in the 2nd quarter. State Street Corp now owns 5,019,860 shares of the utilities provider’s stock worth $262,810,000 after acquiring an additional 372,165 shares during the last quarter. Finally, 1834 Investment Advisors Co. raised its stake in Portland General Electric by 125.1% in the 3rd quarter. 1834 Investment Advisors Co. now owns 100,332 shares of the utilities provider’s stock valued at $4,478,000 after acquiring an additional 55,751 shares during the period.

About Portland General Electric

Portland General Electric Company (NYSE:POR) is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers. The company also offers energy-management programs, renewable energy options and other services designed to support energy efficiency and electrification.

PGE serves communities throughout the state of Oregon, including the Portland metropolitan area and the Willamette Valley. Its operations include a diverse portfolio of power generation resources, transmission and distribution infrastructure, and programs supporting the integration of renewable energy and electric vehicles.

The company traces its history to the development of electric service in Oregon in the late 19th century.