Guggenheim reaffirmed their hold rating on shares of Portland General Electric (NYSE:POR) in a research note issued to investors on Wednesday morning. The brokerage currently has a $48.00 price objective on the utilities provider’s stock.
POR has been the subject of several other reports. Zacks Investment Research raised Portland General Electric from a sell rating to a hold rating in a research note on Tuesday. Bank of America initiated coverage on Portland General Electric in a research note on Tuesday, October 24th. They issued a neutral rating and a $45.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on Portland General Electric from $47.00 to $48.00 and gave the stock a neutral rating in a research note on Monday, October 30th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $46.33.
Portland General Electric (NYSE POR) traded down $0.55 during midday trading on Wednesday, reaching $44.00. The company had a trading volume of 548,589 shares, compared to its average volume of 578,214. Portland General Electric has a 1 year low of $42.41 and a 1 year high of $50.11. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a market cap of $3,920.00, a P/E ratio of 19.05, a P/E/G ratio of 5.15 and a beta of 0.30.
Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, October 27th. The utilities provider reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.06. Portland General Electric had a return on equity of 8.65% and a net margin of 10.21%. The firm had revenue of $515.00 million during the quarter, compared to the consensus estimate of $497.85 million. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. research analysts predict that Portland General Electric will post 2.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, December 26th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, December 22nd. Portland General Electric’s dividend payout ratio (DPR) is 58.87%.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Portland General Electric by 18.0% in the 2nd quarter. BlackRock Inc. now owns 7,180,796 shares of the utilities provider’s stock valued at $328,091,000 after buying an additional 1,097,754 shares during the period. Monarch Partners Asset Management LLC acquired a new stake in shares of Portland General Electric during the 3rd quarter worth about $15,177,000. APG Asset Management N.V. acquired a new stake in shares of Portland General Electric during the 3rd quarter worth about $13,286,000. Wells Fargo & Company MN raised its position in shares of Portland General Electric by 79.0% during the 3rd quarter. Wells Fargo & Company MN now owns 637,091 shares of the utilities provider’s stock worth $29,078,000 after acquiring an additional 281,151 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Portland General Electric by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 7,964,752 shares of the utilities provider’s stock worth $363,909,000 after acquiring an additional 200,707 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.
About Portland General Electric
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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