Portland General Electric (NYSE:POR) Cut to Neutral at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH lowered shares of Portland General Electric (NYSE:POR) from a buy rating to a neutral rating in a research report released on Tuesday, Marketbeat Ratings reports. They currently have $42.00 price target on the utilities provider’s stock.

A number of other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group reaffirmed a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Bank of America reduced their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. KeyCorp reduced their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Finally, Barclays reduced their price target on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Portland General Electric presently has an average rating of “Hold” and a consensus target price of $46.44.

Portland General Electric Stock Performance

Shares of NYSE:POR opened at $43.80 on Tuesday. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 1.09 and a beta of 0.61. Portland General Electric has a 52 week low of $39.49 and a 52 week high of $49.85. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The firm has a 50 day moving average of $42.39 and a 200 day moving average of $45.61.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same period in the prior year, the firm posted $0.67 earnings per share. On average, sell-side analysts predict that Portland General Electric will post 3.2 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, March 24th. Portland General Electric’s payout ratio is 66.45%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’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 directly owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Portland General Electric

Several hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp boosted its holdings in Portland General Electric by 145.1% in the fourth quarter. Mackenzie Financial Corp now owns 16,856 shares of the utilities provider’s stock valued at $735,000 after purchasing an additional 9,980 shares during the last quarter. Vise Technologies Inc. boosted its stake in shares of Portland General Electric by 10.7% during the 4th quarter. Vise Technologies Inc. now owns 9,541 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 924 shares in the last quarter. PharVision Advisers LLC purchased a new stake in shares of Portland General Electric during the 4th quarter worth about $272,000. Zimmer Partners LP boosted its stake in shares of Portland General Electric by 25.2% during the 4th quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider’s stock worth $100,598,000 after acquiring an additional 463,685 shares in the last quarter. Finally, Twinbeech Capital LP boosted its stake in shares of Portland General Electric by 423.1% during the 4th quarter. Twinbeech Capital LP now owns 28,974 shares of the utilities provider’s stock worth $1,264,000 after acquiring an additional 23,435 shares in the last quarter.

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. 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.