Portland General Electric (NYSE:POR) Hits New 12-Month High at $58.47

Portland General Electric (NYSE:POR)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $58.47 and last traded at $58.37, with a volume of 2961 shares trading hands. The stock had previously closed at $57.82.

A number of equities research analysts recently issued reports on POR shares. ValuEngine lowered Portland General Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Mizuho upgraded Portland General Electric from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $59.00 in a research note on Monday, October 7th. Zacks Investment Research upgraded Portland General Electric from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Thursday, January 9th. Sidoti began coverage on Portland General Electric in a research note on Friday, September 27th. They issued a “neutral” rating and a $57.00 price target for the company. Finally, Guggenheim downgraded Portland General Electric from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $59.50.

The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 0.96. The stock has a 50 day simple moving average of $55.60 and a two-hundred day simple moving average of $55.77. The stock has a market capitalization of $5.09 billion, a P/E ratio of 24.62, a P/E/G ratio of 4.49 and a beta of 0.11.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. Portland General Electric had a return on equity of 7.95% and a net margin of 9.62%. The firm had revenue of $542.00 million during the quarter, compared to the consensus estimate of $532.94 million. During the same period last year, the company earned $0.59 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. Sell-side analysts predict that Portland General Electric will post 2.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, December 26th were paid a dividend of $0.385 per share. The ex-dividend date of this dividend was Tuesday, December 24th. This represents a $1.54 annualized dividend and a dividend yield of 2.64%. Portland General Electric’s dividend payout ratio is currently 64.98%.

In other news, VP William O. Nicholson sold 3,000 shares of Portland General Electric stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $55.26, for a total transaction of $165,780.00. Following the completion of the transaction, the vice president now directly owns 1,653 shares in the company, valued at approximately $91,344.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of POR. Marshall Wace North America L.P. bought a new stake in Portland General Electric in the 1st quarter valued at $57,000. LPL Financial LLC boosted its stake in Portland General Electric by 7.1% in the 2nd quarter. LPL Financial LLC now owns 8,967 shares of the utilities provider’s stock valued at $486,000 after purchasing an additional 592 shares during the period. Natixis Advisors L.P. boosted its stake in Portland General Electric by 3.6% in the 2nd quarter. Natixis Advisors L.P. now owns 13,252 shares of the utilities provider’s stock valued at $718,000 after purchasing an additional 465 shares during the period. MML Investors Services LLC boosted its stake in Portland General Electric by 3.4% in the 2nd quarter. MML Investors Services LLC now owns 7,235 shares of the utilities provider’s stock valued at $392,000 after purchasing an additional 238 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in Portland General Electric by 14.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 444,591 shares of the utilities provider’s stock valued at $24,083,000 after purchasing an additional 55,715 shares during the period. Institutional investors own 93.48% of the company’s stock.

About Portland General Electric (NYSE:POR)

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, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.

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