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. “
Other equities research analysts have also recently issued reports about the stock. Wolfe Research cut shares of Portland General Electric Company from a market perform rating to an underperform rating in a research report on Tuesday, February 21st. Barclays PLC raised their price objective on shares of Portland General Electric Company from $39.00 to $41.00 and gave the company a sell rating in a research note on Friday, January 20th. Finally, JPMorgan Chase & Co. raised shares of Portland General Electric Company from an underweight rating to a neutral rating and set a $44.00 price objective for the company in a research note on Friday, December 16th. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Portland General Electric Company presently has a consensus rating of Hold and a consensus target price of $42.67.
Portland General Electric Company (NYSE:POR) traded up 0.92% during mid-day trading on Friday, reaching $46.05. The company had a trading volume of 231,767 shares. The company has a market capitalization of $4.10 billion, a P/E ratio of 21.32 and a beta of 0.31. Portland General Electric Company has a one year low of $37.77 and a one year high of $46.11. The stock has a 50 day moving average price of $44.88 and a 200 day moving average price of $43.30.
Portland General Electric Company (NYSE:POR) last posted its quarterly earnings results on Friday, February 17th. The utilities provider reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.04. Portland General Electric Company had a net margin of 9.64% and a return on equity of 7.99%. The firm had revenue of $524 million for the quarter, compared to analysts’ expectations of $529.73 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts expect that Portland General Electric Company will post $2.26 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Monday, March 27th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, March 23rd. This represents a $1.28 annualized dividend and a dividend yield of 2.81%. Portland General Electric Company’s payout ratio is currently 62.44%.
In other Portland General Electric Company news, insider Maria M. Pope sold 10,838 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $44.07, for a total transaction of $477,630.66. Following the sale, the insider now directly owns 11,425 shares in the company, valued at approximately $503,499.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in POR. JPMorgan Chase & Co. raised its stake in Portland General Electric Company by 12.3% in the third quarter. JPMorgan Chase & Co. now owns 3,495,138 shares of the utilities provider’s stock valued at $148,857,000 after buying an additional 383,895 shares in the last quarter. FMR LLC raised its stake in Portland General Electric Company by 2.8% in the fourth quarter. FMR LLC now owns 2,684,140 shares of the utilities provider’s stock valued at $116,304,000 after buying an additional 72,430 shares in the last quarter. BlackRock Fund Advisors raised its stake in Portland General Electric Company by 11.9% in the third quarter. BlackRock Fund Advisors now owns 2,605,353 shares of the utilities provider’s stock valued at $110,962,000 after buying an additional 277,820 shares in the last quarter. Northern Trust Corp raised its stake in Portland General Electric Company by 2.4% in the third quarter. Northern Trust Corp now owns 1,892,623 shares of the utilities provider’s stock valued at $80,606,000 after buying an additional 44,079 shares in the last quarter. Finally, State Street Corp increased its position in shares of Portland General Electric Company by 4.1% in the fourth quarter. State Street Corp now owns 1,879,382 shares of the utilities provider’s stock valued at $81,434,000 after buying an additional 74,361 shares during the last quarter. Institutional investors and hedge funds own 94.37% of the company’s stock.
About Portland General Electric Company
Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.
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