Portland General Electric (NYSE:POR) Downgraded to Neutral Rating by LADENBURG THALM/SH SH

LADENBURG THALM/SH SH lowered shares of Portland General Electric (NYSE:POR) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The brokerage currently has $42.00 price objective on the utilities provider’s stock.

Several other research firms also recently weighed in on POR. Barclays reduced their price target on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. KeyCorp cut their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Bank of America cut their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. Jefferies Financial Group cut their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Finally, UBS Group reiterated a “neutral” rating and issued a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.44.

Portland General Electric Stock Up 1.1 %

POR opened at $43.80 on Tuesday. Portland General Electric has a twelve month low of $39.49 and a twelve month high of $49.85. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average price of $42.39 and a 200 day moving average price of $45.61. The company has a market cap of $4.79 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.09 and a beta of 0.61.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same quarter in the prior year, the firm earned $0.67 EPS. Sell-side analysts expect that Portland General Electric will post 3.2 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.57%. Portland General Electric’s dividend payout ratio is currently 66.45%.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the sale, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

A number of hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System boosted its position in shares of Portland General Electric by 0.8% during the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider’s stock worth $1,305,000 after purchasing an additional 245 shares during the period. Allworth Financial LP boosted its position in shares of Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 265 shares during the period. Captrust Financial Advisors boosted its position in shares of Portland General Electric by 3.2% during the 4th quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider’s stock worth $379,000 after purchasing an additional 269 shares during the period. OneDigital Investment Advisors LLC boosted its position in shares of Portland General Electric by 4.2% during the 4th quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider’s stock worth $318,000 after purchasing an additional 291 shares during the period. Finally, Texas Yale Capital Corp. boosted its position in shares of Portland General Electric by 2.6% during the 4th quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider’s stock worth $520,000 after purchasing an additional 300 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.