Portland General Electric Company (NYSE:POR) Given Average Recommendation of “Hold” by Brokerages
Shares of Portland General Electric Company (NYSE:POR) have earned an average rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $42.00.
Several equities analysts have recently commented on the stock. UBS AG lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 2nd. BidaskClub raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Monday. Williams Capital downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $44.00 to $41.00 in a report on Monday. Zacks Investment Research raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Barclays PLC reaffirmed an “underweight” rating and issued a $44.00 price objective (up previously from $41.00) on shares of Portland General Electric in a report on Sunday, April 23rd.
In other news, VP Campbell A. Henderson sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $45.01, for a total value of $135,030.00. Following the transaction, the vice president now owns 20,424 shares in the company, valued at approximately $919,284.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William O. Nicholson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $45.10, for a total value of $270,600.00. Following the completion of the transaction, the insider now owns 16,313 shares in the company, valued at approximately $735,716.30. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in Portland General Electric by 0.4% in the first quarter. IFP Advisors Inc now owns 2,811 shares of the utilities provider’s stock valued at $125,000 after buying an additional 10 shares during the last quarter. Huntington National Bank raised its stake in Portland General Electric by 1.2% in the second quarter. Huntington National Bank now owns 2,809 shares of the utilities provider’s stock valued at $128,000 after buying an additional 34 shares during the last quarter. Cable Hill Partners LLC raised its stake in Portland General Electric by 0.4% in the first quarter. Cable Hill Partners LLC now owns 4,318 shares of the utilities provider’s stock valued at $192,000 after buying an additional 17 shares during the last quarter. Becker Capital Management Inc. acquired a new stake in Portland General Electric during the fourth quarter valued at $233,000. Finally, Regentatlantic Capital LLC raised its stake in Portland General Electric by 5.9% in the first quarter. Regentatlantic Capital LLC now owns 5,580 shares of the utilities provider’s stock valued at $248,000 after buying an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 95.09% of the company’s stock.
Portland General Electric (POR) traded down 0.51% during mid-day trading on Tuesday, hitting $45.09. 131,411 shares of the stock traded hands. The stock has a 50-day moving average of $46.19 and a 200 day moving average of $45.09. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 19.60 and a beta of 0.30. Portland General Electric has a 1-year low of $40.28 and a 1-year high of $48.06.
Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 28th. The utilities provider reported $0.82 EPS for the quarter, hitting the consensus estimate of $0.82. The business had revenue of $530 million during the quarter, compared to analyst estimates of $521.97 million. Portland General Electric had a net margin of 10.43% and a return on equity of 8.78%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 earnings per share. On average, equities analysts expect that Portland General Electric will post $2.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, June 26th were issued a $0.34 dividend. This is an increase from Portland General Electric’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, June 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.00%. Portland General Electric’s dividend payout ratio is currently 59.13%.
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Portland General Electric Company Profile
Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.
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