Mizuho Reaffirms “Buy” Rating for Portland General Electric (POR)

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Mizuho reiterated their buy rating on shares of Portland General Electric (NYSE:POR) in a research report report published on Thursday. They currently have a $50.00 price target on the utilities provider’s stock.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Portland General Electric from a hold rating to a buy rating and set a $51.00 target price on the stock in a research note on Tuesday, January 15th. ValuEngine upgraded shares of Portland General Electric from a hold rating to a buy rating in a research note on Tuesday, November 20th. Bank of America upgraded shares of Portland General Electric from an underperform rating to a neutral rating in a research note on Tuesday, October 30th. Finally, Barclays lifted their target price on shares of Portland General Electric from $42.00 to $43.00 and gave the company a sell rating in a research note on Monday, November 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Portland General Electric currently has a consensus rating of Hold and a consensus target price of $44.56.

POR opened at $48.93 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.90. Portland General Electric has a fifty-two week low of $39.02 and a fifty-two week high of $50.40. The firm has a market cap of $4.37 billion, a P/E ratio of 21.37, a PEG ratio of 6.14 and a beta of 0.27.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 15th. The utilities provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Portland General Electric had a net margin of 10.34% and a return on equity of 9.05%. The company had revenue of $524.00 million for the quarter, compared to analysts’ expectations of $520.95 million. During the same quarter in the previous year, the company earned $0.67 EPS. As a group, equities analysts expect that Portland General Electric will post 2.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, March 25th will be paid a $0.3625 dividend. This represents a $1.45 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, March 22nd. Portland General Electric’s payout ratio is currently 63.32%.

A number of hedge funds have recently made changes to their positions in the business. First Mercantile Trust Co. lifted its stake in Portland General Electric by 4.5% in the 4th quarter. First Mercantile Trust Co. now owns 5,182 shares of the utilities provider’s stock worth $237,000 after purchasing an additional 222 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Portland General Electric by 1.6% in the 4th quarter. Advisors Asset Management Inc. now owns 17,648 shares of the utilities provider’s stock worth $809,000 after purchasing an additional 281 shares in the last quarter. Suntrust Banks Inc. lifted its stake in Portland General Electric by 0.7% in the 4th quarter. Suntrust Banks Inc. now owns 56,518 shares of the utilities provider’s stock worth $2,591,000 after purchasing an additional 383 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Portland General Electric by 3.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 14,777 shares of the utilities provider’s stock worth $678,000 after purchasing an additional 522 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Portland General Electric by 1.1% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 50,832 shares of the utilities provider’s stock worth $2,331,000 after purchasing an additional 555 shares in the last quarter. Institutional investors and hedge funds own 96.96% of the company’s stock.

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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Analyst Recommendations for Portland General Electric (NYSE:POR)

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