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. “
Other equities analysts have also issued research reports about the company. Williams Capital boosted their price objective on Portland General Electric from $41.00 to $45.00 and gave the stock a hold rating in a research note on Friday, August 5th. Guggenheim assumed coverage on Portland General Electric in a research note on Thursday, November 3rd. They set a neutral rating on the stock. Finally, Bank of America Corp. lowered Portland General Electric from a buy rating to a neutral rating and set a $45.00 price target on the stock. in a research note on Tuesday, August 2nd. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock has a consensus rating of Hold and an average price target of $42.08.
Portland General Electric (NYSE:POR) opened at 41.90 on Friday. Portland General Electric has a 52 week low of $34.99 and a 52 week high of $45.21. The stock’s 50 day moving average price is $42.10 and its 200 day moving average price is $42.37. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 20.38 and a beta of 0.31.
Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 28th. The company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.04. The company had revenue of $484 million for the quarter, compared to analyst estimates of $473 million. Portland General Electric had a return on equity of 7.99% and a net margin of 9.64%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. On average, analysts forecast that Portland General Electric will post $2.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, December 27th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, December 22nd. This represents a $1.28 annualized dividend and a yield of 3.05%. Portland General Electric’s dividend payout ratio (DPR) is 62.44%.
Large investors have recently modified their holdings of the company. Prudential Financial Inc. increased its stake in shares of Portland General Electric by 334.2% in the first quarter. Prudential Financial Inc. now owns 67,559 shares of the company’s stock valued at $2,668,000 after buying an additional 52,000 shares during the period. BlackRock Group LTD increased its stake in shares of Portland General Electric by 21.1% in the first quarter. BlackRock Group LTD now owns 65,218 shares of the company’s stock valued at $2,576,000 after buying an additional 11,371 shares during the period. State Street Corp increased its stake in shares of Portland General Electric by 4.2% in the first quarter. State Street Corp now owns 1,793,466 shares of the company’s stock valued at $70,824,000 after buying an additional 71,660 shares during the period. UBS Group AG increased its stake in shares of Portland General Electric by 215.4% in the first quarter. UBS Group AG now owns 53,929 shares of the company’s stock valued at $2,130,000 after buying an additional 36,829 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Portland General Electric by 7.9% in the first quarter. Geode Capital Management LLC now owns 582,443 shares of the company’s stock valued at $22,999,000 after buying an additional 42,559 shares during the period. Institutional investors own 94.43% of the company’s stock.
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.
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