Zacks Investment Research cut shares of Portland General Electric (NYSE:POR) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Portland General Electric, headquartered in Portland, Ore., is a vertically integrated electric utility that serves residential, commercial and industrial customers in Oregon. The company has more than a century of experience in power delivery. PGE generates power from a diverse mix of resources, including hydropower, coal and natural gas. PGE also participates in the wholesale market by purchasing and selling electricity and natural gas to utilities and energy marketers. “

Separately, Mizuho set a $103.00 target price on shares of Celgene and gave the company a buy rating in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Portland General Electric presently has an average rating of Hold and an average target price of $47.67.

Shares of Portland General Electric stock opened at $54.52 on Wednesday. The firm has a fifty day simple moving average of $54.47. The firm has a market cap of $4.93 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 4.61 and a beta of 0.24. Portland General Electric has a 12 month low of $42.97 and a 12 month high of $55.98. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 0.85.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, April 26th. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The business had revenue of $573.00 million for the quarter, compared to analysts’ expectations of $520.05 million. Portland General Electric had a net margin of 10.67% and a return on equity of 8.84%. The company’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. On average, equities analysts expect that Portland General Electric will post 2.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 25th will be paid a $0.385 dividend. This is a boost from Portland General Electric’s previous quarterly dividend of $0.36. This represents a $1.54 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Monday, June 24th. Portland General Electric’s payout ratio is currently 64.98%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Washington Trust Bank acquired a new position in shares of Portland General Electric during the 1st quarter worth $30,000. GWM Advisors LLC acquired a new position in shares of Portland General Electric during the 1st quarter worth $37,000. Manchester Capital Management LLC acquired a new position in shares of Portland General Electric during the 1st quarter worth $54,000. Marshall Wace North America L.P. acquired a new position in shares of Portland General Electric during the 1st quarter worth $57,000. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Portland General Electric during the 1st quarter worth $73,000. 94.32% of the stock is currently owned by institutional investors.

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. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.

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