Portland General Electric (NYSE:POR) Hits New 12-Month High at $48.67

Shares of Portland General Electric (NYSE:POR) reached a new 52-week high during trading on Tuesday . The company traded as high as $48.67 and last traded at $48.57, with a volume of 122130 shares. The stock had previously closed at $48.11.

Analyst Ratings Changes

Several equities research analysts recently issued reports on POR shares. Barclays lifted their price target on shares of Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Mizuho increased their price target on Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Finally, KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Portland General Electric currently has an average rating of “Hold” and a consensus target price of $44.86.

Portland General Electric Trading Up 1.2 %

The firm has a 50 day moving average price of $45.88 and a two-hundred day moving average price of $43.63. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 18.58 and a beta of 0.58.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The firm had revenue of $758.00 million for the quarter, compared to the consensus estimate of $716.43 million. During the same quarter in the previous year, the company earned $0.44 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities analysts forecast that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is 76.63%.

Insider Buying and Selling

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at $1,045,527.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Portland General Electric news, 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 completion of the sale, the vice president now directly owns 22,606 shares in the company, valued at $1,045,527.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the transaction, the chief operating officer now owns 30,142 shares in the company, valued at approximately $1,446,816. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Portland General Electric

Institutional investors have recently modified their holdings of the company. Fifth Third Bancorp grew its holdings in shares of Portland General Electric by 39.3% during the first quarter. Fifth Third Bancorp now owns 883 shares of the utilities provider’s stock valued at $37,000 after buying an additional 249 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Portland General Electric by 1.3% in the first quarter. New York State Teachers Retirement System now owns 24,061 shares of the utilities provider’s stock valued at $1,011,000 after purchasing an additional 300 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Portland General Electric by 1.4% in the 4th quarter. Van ECK Associates Corp now owns 22,856 shares of the utilities provider’s stock worth $991,000 after acquiring an additional 321 shares in the last quarter. Retirement Systems of Alabama increased its stake in Portland General Electric by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 126,987 shares of the utilities provider’s stock valued at $5,333,000 after buying an additional 335 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Portland General Electric by 20.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 413 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.