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 equities analysts have also recently commented on POR. Bank of America Corp. cut shares of Portland General Electric from a buy rating to a neutral rating and set a $45.00 price target on the stock. 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 company a hold rating in a report on Friday, August 5th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $41.21.
Shares of Portland General Electric (NYSE:POR) opened at 41.70 on Wednesday. The firm has a market capitalization of $3.71 billion, a P/E ratio of 20.10 and a beta of 0.31. Portland General Electric has a 52 week low of $34.97 and a 52 week high of $45.21. The stock’s 50 day moving average price is $42.34 and its 200 day moving average price is $41.93.
Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.42 EPS for the quarter, missing the 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 had revenue of $428 million for the quarter, compared to analysts’ expectations of $439.08 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The company’s revenue was down 4.9% on a year-over-year basis. On average, analysts predict that Portland General Electric will post $2.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, September 26th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, September 22nd. Portland General Electric’s payout ratio is presently 61.84%.
Several large investors have recently added to or reduced their stakes in POR. Kennedy Capital Management Inc. raised its stake in Portland General Electric by 35.8% in the first quarter. Kennedy Capital Management Inc. now owns 332,861 shares of the company’s stock valued at $13,145,000 after buying an additional 87,774 shares during the last quarter. Geode Capital Management LLC raised its position in Portland General Electric by 7.9% in the first quarter. Geode Capital Management LLC now owns 582,443 shares of the company’s stock worth $22,999,000 after buying an additional 42,559 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Portland General Electric by 21.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,557,372 shares of the company’s stock worth $100,991,000 after buying an additional 457,270 shares in the last quarter. UBS Group AG raised its position in Portland General Electric by 215.4% in the first quarter. UBS Group AG now owns 53,929 shares of the company’s stock worth $2,130,000 after buying an additional 36,829 shares in the last quarter. Finally, State Street Corp raised its position in Portland General Electric by 4.2% in the first quarter. State Street Corp now owns 1,793,466 shares of the company’s stock worth $70,824,000 after buying an additional 71,660 shares in the last quarter. 94.26% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.