Portland General Electric’s (POR) “Neutral” Rating Reiterated at UBS Group

UBS Group reissued their neutral rating on shares of Portland General Electric (NYSE:POR) in a research note released on Friday morning, MarketBeat Ratings reports. The firm currently has a $47.00 target price on the utilities provider’s stock, down from their prior target price of $52.00.

Other research analysts have also recently issued research reports about the company. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. KeyCorp dropped their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays decreased their price target on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Finally, Evercore ISI started coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.88.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $43.15 on Friday. The company has a 50 day moving average of $45.91 and a 200 day moving average of $46.34. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The stock has a market cap of $4.55 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.13 and a beta of 0.59. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. During the same period in the previous year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, sell-side analysts forecast that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s payout ratio is 59.70%.

Institutional Investors Weigh In On Portland General Electric

Institutional investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Portland General Electric in the third quarter valued at about $596,000. Franklin Resources Inc. increased its holdings in Portland General Electric by 114.1% during the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after purchasing an additional 81,701 shares during the period. Qsemble Capital Management LP bought a new position in Portland General Electric during the 2nd quarter valued at approximately $678,000. Choreo LLC purchased a new stake in Portland General Electric in the 2nd quarter worth approximately $965,000. Finally, HighTower Advisors LLC grew its position in shares of Portland General Electric by 14.2% in the 3rd quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock worth $4,114,000 after buying an additional 10,643 shares during 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.