JPMorgan Chase & Co. Cuts Portland General Electric (NYSE:POR) Price Target to $45.00

Portland General Electric (NYSE:POR) had its price objective decreased by JPMorgan Chase & Co. from $46.00 to $45.00 in a report issued on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the utilities provider’s stock.

POR has been the topic of a number of other reports. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Friday, April 25th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, February 18th. BMO Capital Markets started coverage on shares of Portland General Electric in a report on Tuesday, May 13th. They issued a “market perform” rating and a $46.00 target price on the stock. Evercore ISI decreased their target price on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Finally, UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and raised their target price for the company from $47.00 to $50.00 in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.60.

Portland General Electric Price Performance

NYSE:POR opened at $41.95 on Monday. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.11 and a beta of 0.57. The firm’s 50-day simple moving average is $42.81 and its 200 day simple moving average is $43.64. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business had revenue of $928.00 million for the quarter, compared to the consensus estimate of $977.02 million. During the same period in the prior year, the business posted $1.21 earnings per share. Portland General Electric’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts predict that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be given a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.01%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.50. Portland General Electric’s payout ratio is 73.94%.

Insider Transactions at Portland General Electric

In other news, EVP Benjamin Felton sold 1,845 shares of the business’s stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following the transaction, the executive vice president now owns 32,646 shares in the company, valued at approximately $1,404,430.92. The trade was a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Synergy Asset Management LLC lifted its position in shares of Portland General Electric by 260.6% in the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock worth $5,096,000 after purchasing an additional 82,743 shares during the period. Blair William & Co. IL lifted its position in shares of Portland General Electric by 13.2% in the 4th quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 692 shares during the period. American Century Companies Inc. lifted its position in shares of Portland General Electric by 3.7% in the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider’s stock worth $6,166,000 after purchasing an additional 5,084 shares during the period. Natixis Advisors LLC lifted its position in shares of Portland General Electric by 1.3% in the 4th quarter. Natixis Advisors LLC now owns 322,686 shares of the utilities provider’s stock worth $14,076,000 after purchasing an additional 4,195 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Portland General Electric by 11.6% in the 4th quarter. Van ECK Associates Corp now owns 93,330 shares of the utilities provider’s stock worth $4,071,000 after purchasing an additional 9,715 shares during the period.

Portland General Electric Company Profile

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.