Portland General Electric Co. (POR) Lifted to Hold at Zacks Investment Research
Portland General Electric Co. (NYSE:POR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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. “
Other equities analysts have also issued research reports about the stock. Bank of America Corp. lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research report on Tuesday, August 2nd. Williams Capital lifted their price target on shares of Portland General Electric from $41.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, August 5th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Portland General Electric presently has an average rating of “Hold” and a consensus price target of $41.21.
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Portland General Electric (NYSE:POR) opened at 40.32 on Wednesday. Portland General Electric has a 52-week low of $34.97 and a 52-week high of $45.21. The stock has a 50 day moving average of $42.46 and a 200-day moving average of $41.92. The company has a market capitalization of $3.59 billion, a P/E ratio of 19.43 and a beta of 0.31.
Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.01. The business had revenue of $428 million for the quarter, compared to the consensus estimate of $439.08 million. Portland General Electric had a net margin of 9.79% and a return on equity of 8.15%. Portland General Electric’s revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. On average, equities analysts forecast that Portland General Electric will post $2.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, September 26th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Thursday, September 22nd. Portland General Electric’s dividend payout ratio (DPR) is currently 61.84%.
A number of institutional investors have recently made changes to their positions in the company. First Mercantile Trust Co. bought a new position in shares of Portland General Electric during the third quarter worth about $304,000. BNP Paribas Arbitrage SA raised its position in shares of Portland General Electric by 12.3% in the third quarter. BNP Paribas Arbitrage SA now owns 10,796 shares of the company’s stock worth $460,000 after buying an additional 1,183 shares during the period. IFP Advisors Inc raised its position in shares of Portland General Electric by 202.0% in the second quarter. IFP Advisors Inc now owns 4,291 shares of the company’s stock worth $189,000 after buying an additional 2,870 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Portland General Electric by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 6,647 shares of the company’s stock worth $293,000 after buying an additional 47 shares during the period. Finally, Personal Capital Advisors Corp raised its position in shares of Portland General Electric by 91.5% in the second quarter. Personal Capital Advisors Corp now owns 174,726 shares of the company’s stock worth $7,709,000 after buying an additional 83,507 shares during the period. 94.27% of the stock is currently owned by institutional investors and hedge funds.
Portland General Electric Company Profile
Portland General Electric Company (PGE) is an electric utility company. The Company is engaged in the generation, wholesale purchase, transmission, distribution and retail sale of electricity in the state of Oregon. The Company also sells electricity and natural gas in the wholesale market to utilities, brokers and power marketers.
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