Zacks Investment Research lowered shares of Portland General Electric (NYSE:POR) from a buy rating to a hold rating in a research report released on Wednesday morning.

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 brokerages also recently weighed in on POR. Wells Fargo & Co upped their target price on shares of Portland General Electric from $47.00 to $48.00 and gave the stock a market perform rating in a report on Monday, September 17th. ValuEngine raised shares of Portland General Electric from a hold rating to a buy rating in a report on Wednesday, October 24th. Bank of America raised shares of Portland General Electric from an underperform rating to a neutral rating in a report on Tuesday, October 30th. Williams Capital raised shares of Portland General Electric from a sell rating to a hold rating and upped their target price for the stock from $41.00 to $44.00 in a report on Monday, July 30th. Finally, UBS Group upped their target price on shares of Portland General Electric from $40.00 to $42.00 and gave the stock a $45.10 rating in a report on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $43.83.

Shares of POR stock traded up $0.12 during mid-day trading on Wednesday, reaching $46.48. 661,083 shares of the company’s stock traded hands, compared to its average volume of 700,024. Portland General Electric has a 12 month low of $39.02 and a 12 month high of $50.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.90 and a quick ratio of 0.79. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 5.99 and a beta of 0.19.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, October 26th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.09. Portland General Electric had a net margin of 10.34% and a return on equity of 9.05%. The firm had revenue of $525.00 million during the quarter, compared to the consensus estimate of $527.63 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts expect that Portland General Electric will post 2.34 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, December 26th will be issued a $0.3625 dividend. This represents a $1.45 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Monday, December 24th. Portland General Electric’s dividend payout ratio is currently 63.32%.

Institutional investors have recently modified their holdings of the stock. Commonwealth Bank of Australia raised its position in shares of Portland General Electric by 90,284.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,457,900 shares of the utilities provider’s stock valued at $60,477,000 after buying an additional 1,456,287 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Portland General Electric during the 3rd quarter valued at about $61,875,000. Monarch Partners Asset Management LLC purchased a new stake in shares of Portland General Electric during the 3rd quarter valued at about $11,527,000. Robeco Institutional Asset Management B.V. raised its position in shares of Portland General Electric by 686.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 275,610 shares of the utilities provider’s stock valued at $12,594,000 after buying an additional 240,567 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Portland General Electric by 45.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 584,957 shares of the utilities provider’s stock valued at $26,584,000 after buying an additional 183,913 shares in the last quarter. 93.66% of the stock is owned by institutional investors.

Portland General Electric Company Profile

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2017, it owned an electric transmission system consisting of 1,250 circuit miles, including 287 circuit miles of 500 kilovolt line, 402 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.

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