Portland General Electric (NYSE:POR – Get Rating)'s stock price was down 3% during trading on Friday . The stock traded as low as $44.13 and last traded at $44.17. Approximately 11,328 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 642,758 shares. The stock had previously closed at $45.53.
Analyst Ratings Changes
Several equities research analysts have recently commented on POR shares. StockNews.com upgraded Portland General Electric from a "hold" rating to a "buy" rating in a research note on Monday, August 1st. The Goldman Sachs Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $49.00 to $52.00 in a research note on Thursday, June 2nd. Barclays reduced their price objective on Portland General Electric from $53.00 to $49.00 and set an "equal weight" rating for the company in a research note on Monday, July 18th. Mizuho upped their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the stock a "neutral" rating in a report on Friday, August 26th. Finally, Credit Suisse Group dropped their target price on shares of Portland General Electric from $52.00 to $50.00 and set an "underperform" rating for the company in a report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $52.00.
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Portland General Electric Price Performance
The firm's fifty day simple moving average is $51.86 and its 200 day simple moving average is $50.88. The firm has a market cap of $3.92 billion, a P/E ratio of 16.99, a P/E/G ratio of 3.65 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.77 and a current ratio of 0.87.
Portland General Electric (NYSE:POR – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The utilities provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.61 by $0.11. Portland General Electric had a net
margin of 9.73% and a return on equity of 8.87%. The business had revenue of $591.00 million during the quarter, compared to the consensus estimate of $531.67 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The business's revenue was up 10.1% on a year-over-year basis. As a group, analysts forecast that Portland General Electric will post 2.82 earnings per share for the current year.
Portland General Electric Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, September 26th will be issued a dividend of $0.4525 per share. This represents a $1.81 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Friday, September 23rd. Portland General Electric's dividend payout ratio (DPR) is presently 67.54%.
Insider Buying and Selling at Portland General Electric
In other Portland General Electric news, VP John Teeruk Kochavatr sold 2,000 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $53.72, for a total transaction of $107,440.00. Following the completion of the transaction, the vice president now owns 14,112 shares of the company's stock, valued at approximately $758,096.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in POR. Quadrant Capital Group LLC lifted its holdings in shares of Portland General Electric by 69.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 778 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 318 shares during the last quarter. Ronald Blue Trust Inc. bought a new position in shares of Portland General Electric in the 2nd quarter valued at about $47,000. Assetmark Inc. lifted its holdings in shares of Portland General Electric by 120.4% in the 2nd quarter. Assetmark Inc. now owns 996 shares of the utilities provider's stock valued at $48,000 after acquiring an additional 544 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Portland General Electric in the 2nd quarter valued at about $56,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Portland General Electric by 26.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,373 shares of the utilities provider's stock valued at $76,000 after acquiring an additional 285 shares during the last quarter. Institutional investors own 99.67% of the company's stock.
Portland General Electric Company Profile
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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, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.
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