Portland General Electric Co. (POR) Receives Average Rating of “Hold” from Analysts
Shares of Portland General Electric Co. (NYSE:POR) have been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the firm. Three analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $41.25.
Several research firms have issued reports on POR. Zacks Investment Research upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Thursday, August 4th. Bank of America Corp. lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Tuesday, August 2nd. Williams Capital lifted their price objective on shares of Portland General Electric from $41.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, August 5th. Finally, Guggenheim assumed coverage on shares of Portland General Electric in a research note on Thursday, November 3rd. They issued a “neutral” rating for the company.
Shares of Portland General Electric (NYSE:POR) opened at 41.24 on Thursday. The company has a market cap of $3.67 billion, a P/E ratio of 20.06 and a beta of 0.31. The firm has a 50-day moving average of $42.02 and a 200 day moving average of $42.44. Portland General Electric has a 52 week low of $34.99 and a 52 week high of $45.21.
Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by $0.04. Portland General Electric had a return on equity of 7.99% and a net margin of 9.64%. The firm had revenue of $484 million for the quarter, compared to the consensus estimate of $473 million. During the same quarter in the previous year, the business posted $0.40 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts anticipate that Portland General Electric will post $2.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, December 27th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, December 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 3.10%. Portland General Electric’s dividend payout ratio (DPR) is presently 62.44%.
A number of hedge funds have recently made changes to their positions in POR. The Manufacturers Life Insurance Company acquired a new stake in shares of Portland General Electric during the third quarter worth approximately $10,950,000. Analytic Investors LLC raised its stake in shares of Portland General Electric by 6.5% in the third quarter. Analytic Investors LLC now owns 82,745 shares of the company’s stock worth $3,524,000 after buying an additional 5,081 shares during the period. UBS Group AG raised its stake in shares of Portland General Electric by 820.3% in the third quarter. UBS Group AG now owns 587,706 shares of the company’s stock worth $25,030,000 after buying an additional 523,843 shares during the period. Two Sigma Advisers LP raised its stake in shares of Portland General Electric by 271.3% in the third quarter. Two Sigma Advisers LP now owns 62,821 shares of the company’s stock worth $2,676,000 after buying an additional 45,900 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Portland General Electric by 14.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,554 shares of the company’s stock worth $109,000 after buying an additional 330 shares during the period. Institutional investors and hedge funds own 93.82% 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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