Portland General Electric Co. (POR) Downgraded to Sell at Zacks Investment Research
According to Zacks, “Portland General Electric, headquartered in Portland, Ore., is a vertically integrated electric utility that serves residential, commercial and industrial customers in Oregon. The company has more than a century of experience in power delivery. PGE generates power from a diverse mix of resources, including hydropower, coal and natural gas. PGE also participates in the wholesale market by purchasing and selling electricity and natural gas to utilities and energy marketers. “
Several other analysts also recently weighed in on POR. Bank of America Corp. downgraded shares of Portland General Electric from a buy rating to a neutral rating and set a $45.00 target price for the company. in a report on Tuesday, August 2nd. 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. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $41.21.
Portland General Electric (NYSE:POR) traded up 0.17% during trading on Wednesday, hitting $40.89. The company had a trading volume of 117,177 shares. Portland General Electric has a 52-week low of $34.97 and a 52-week high of $45.21. 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 $42.69 and its 200-day moving average is $41.88.
Portland General Electric (NYSE:POR) last posted its earnings results on Wednesday, August 3rd. The company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Portland General Electric had a net margin of 9.79% and a return on equity of 8.15%. The company earned $428 million during the quarter, compared to analyst estimates of $439.08 million. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities analysts forecast that Portland General Electric will post $2.12 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, September 26th will be issued a $0.32 dividend. The ex-dividend date is Thursday, September 22nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.14%. Portland General Electric’s payout ratio is 61.84%.
Several large investors have recently made changes to their positions in POR. Creative Planning acquired a new stake in shares of Portland General Electric during the second quarter worth approximately $105,000. Advisor Group Inc. acquired a new stake in shares of Portland General Electric during the second quarter worth approximately $140,000. IFP Advisors Inc boosted its stake in shares of Portland General Electric by 202.0% in the second quarter. IFP Advisors Inc now owns 4,291 shares of the company’s stock worth $189,000 after buying an additional 2,870 shares during the last quarter. Barclays PLC boosted its stake in shares of Portland General Electric by 3,519.0% in the second quarter. Barclays PLC now owns 4,379 shares of the company’s stock worth $194,000 after buying an additional 4,258 shares during the last quarter. Finally, Delaney Dennis R acquired a new stake in shares of Portland General Electric during the second quarter worth approximately $207,000. 94.27% of the stock is owned by institutional investors and hedge funds.
About Portland General Electric
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.
Receive News & Stock Ratings for Portland General Electric Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portland General Electric Co. and related stocks with our FREE daily email newsletter.