Portland General Electric Co. (NYSE:POR) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Portland General Electric Co. (NYSE:POR) have been assigned a consensus rating of “Hold” from the eight brokerages that are currently covering the stock. Four analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $40.20.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Wednesday. Williams Capital boosted their price target on shares of Portland General Electric from $41.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, August 5th. Finally, Bank of America Corp. lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Tuesday, August 2nd.
Portland General Electric (NYSE:POR) traded up 0.42% during trading on Wednesday, hitting $40.90. The company had a trading volume of 324,854 shares. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 19.71 and a beta of 0.31. The firm’s 50 day moving average is $42.73 and its 200-day moving average is $41.89. Portland General Electric has a 52-week low of $34.97 and a 52-week high of $45.21.
Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by $0.01. Portland General Electric had a return on equity of 8.15% and a net margin of 9.79%. The firm had revenue of $428 million for the quarter, compared to analyst estimates of $439.08 million. During the same quarter last year, the firm earned $0.44 earnings per share. The company’s revenue was down 4.9% compared to the same quarter last year. On average, equities analysts forecast that Portland General Electric will post $2.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, September 26th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a $1.28 annualized dividend and a dividend yield of 3.14%. Portland General Electric’s dividend payout ratio is presently 61.84%.
Several hedge funds have recently added to or reduced their stakes in the stock. Creative Planning acquired a new stake in Portland General Electric during the second quarter valued at approximately $105,000. Advisor Group Inc. acquired a new stake in Portland General Electric during the second quarter valued at approximately $140,000. IFP Advisors Inc raised its stake in Portland General Electric by 202.0% in the second quarter. IFP Advisors Inc now owns 4,291 shares of the company’s stock valued at $189,000 after buying an additional 2,870 shares in the last quarter. Barclays PLC raised its stake in Portland General Electric by 3,519.0% in the second quarter. Barclays PLC now owns 4,379 shares of the company’s stock valued at $194,000 after buying an additional 4,258 shares in the last quarter. Finally, Delaney Dennis R acquired a new stake in Portland General Electric during the second quarter valued at approximately $207,000. Institutional investors and hedge funds own 94.27% of the company’s stock.
Portland General Electric Company Profile
Portland General Electric Company (PGE) is an electric utility company. The Company is engaged in the generation, wholesale purchase, transmission, distribution and retail sale of electricity in the state of Oregon. The Company also sells electricity and natural gas in the wholesale market to utilities, brokers and power marketers.
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