ValuEngine upgraded shares of Portland General Electric (NYSE:POR) from a sell rating to a hold rating in a research report report published on Friday morning.
A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Portland General Electric from a sell rating to a hold rating in a research note on Wednesday, May 2nd. JPMorgan Chase & Co. upped their price objective on Portland General Electric from $41.00 to $42.00 and gave the stock a neutral rating in a research note on Tuesday, April 10th. Bank of America cut Portland General Electric from a neutral rating to an underperform rating and dropped their price objective for the stock from $41.00 to $39.00 in a research note on Tuesday, March 6th. Finally, Guggenheim reiterated a hold rating and set a $40.00 price objective on shares of Portland General Electric in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Portland General Electric presently has an average rating of Hold and a consensus target price of $42.44.
Portland General Electric opened at $42.84 on Friday, according to Marketbeat Ratings. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 7.07 and a beta of 0.22. The company has a current ratio of 1.35, a quick ratio of 1.15 and a debt-to-equity ratio of 0.99. Portland General Electric has a 52 week low of $39.02 and a 52 week high of $50.11.
Portland General Electric (NYSE:POR) last released its earnings results on Friday, April 27th. The utilities provider reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.07. The firm had revenue of $493.00 million for the quarter, compared to analysts’ expectations of $523.28 million. Portland General Electric had a return on equity of 8.08% and a net margin of 9.03%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. equities analysts expect that Portland General Electric will post 2.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, June 25th will be paid a dividend of $0.3625 per share. The ex-dividend date of this dividend is Friday, June 22nd. This represents a $1.45 dividend on an annualized basis and a dividend yield of 3.38%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.34. Portland General Electric’s dividend payout ratio is currently 59.39%.
Institutional investors have recently made changes to their positions in the company. Suntrust Banks Inc. increased its holdings in shares of Portland General Electric by 2.3% during the 1st quarter. Suntrust Banks Inc. now owns 53,494 shares of the utilities provider’s stock worth $2,166,000 after acquiring an additional 1,225 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Portland General Electric by 32.2% during the 1st quarter. Principal Financial Group Inc. now owns 619,825 shares of the utilities provider’s stock worth $25,110,000 after acquiring an additional 150,850 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its holdings in shares of Portland General Electric by 13.7% during the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 364,668 shares of the utilities provider’s stock worth $14,773,000 after acquiring an additional 44,064 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Portland General Electric by 3.5% during the 1st quarter. Legal & General Group Plc now owns 371,412 shares of the utilities provider’s stock worth $15,046,000 after acquiring an additional 12,427 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in shares of Portland General Electric during the 1st quarter worth approximately $5,025,000. Institutional investors own 92.57% of the company’s stock.
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. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2017, it owned an electric transmission system consisting of 1,250 circuit miles, including 287 circuit miles of 500 kilovolt line, 402 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.
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