Bank of America Corp. downgraded shares of Portland General Electric Co. (NYSE:POR) from a neutral rating to an underperform rating in a report published on Tuesday.

Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Portland General Electric from a buy rating to a hold rating in a research note on Saturday, August 6th. Williams Capital increased their target price on 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 began coverage on Portland General Electric in a research note on Thursday, November 3rd. They issued a neutral rating on the stock. Four research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of Hold and an average price target of $42.08.

Analyst Recommendations for Portland General Electric (NYSE:POR)

Shares of Portland General Electric (NYSE:POR) traded down 0.95% during trading on Tuesday, reaching $41.84. The company had a trading volume of 64,580 shares. The company has a 50 day moving average of $41.83 and a 200-day moving average of $42.48. The firm has a market capitalization of $3.72 billion, a P/E ratio of 20.35 and a beta of 0.31. Portland General Electric has a 52-week low of $35.04 and a 52-week high of $45.21.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, October 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.42 by $0.04. The business had revenue of $484 million for the quarter, compared to the consensus estimate of $473 million. Portland General Electric had a return on equity of 7.99% and a net margin of 9.64%. Portland General Electric’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 EPS. Equities analysts expect that Portland General Electric will post $2.12 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Tuesday, December 27th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, December 22nd. This represents a $1.28 annualized dividend and a yield of 3.03%. Portland General Electric’s payout ratio is currently 62.44%.

A number of hedge funds have recently added to or reduced their stakes in POR. Nordea Investment Management AB boosted its stake in Portland General Electric by 34.1% in the second quarter. Nordea Investment Management AB now owns 102,300 shares of the company’s stock valued at $4,513,000 after buying an additional 26,000 shares during the last quarter. James Investment Research Inc. boosted its stake in Portland General Electric by 7.7% in the second quarter. James Investment Research Inc. now owns 608,023 shares of the company’s stock valued at $26,826,000 after buying an additional 43,564 shares during the last quarter. Foundry Partners LLC boosted its stake in Portland General Electric by 1,714.7% in the second quarter. Foundry Partners LLC now owns 266,174 shares of the company’s stock valued at $11,744,000 after buying an additional 251,506 shares during the last quarter. Creative Planning purchased a new stake in Portland General Electric during the second quarter valued at $105,000. Finally, Banced Corp purchased a new stake in Portland General Electric during the second quarter valued at $849,000. 96.46% of the stock is owned by institutional investors and hedge funds.

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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.

5 Day Chart for NYSE:POR

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