Portland General Electric (NYSE:POR - Get Free Report) SVP Maria Angelica Espinosa sold 2,000 shares of the business's stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total value of $88,600.00. Following the transaction, the senior vice president now directly owns 16,763 shares of the company's stock, valued at $742,600.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Portland General Electric Stock Down 0.8 %
Shares of NYSE:POR opened at $44.06 on Thursday. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $51.39. The company has a quick ratio of 1.09, a current ratio of 1.22 and a debt-to-equity ratio of 1.34. The firm's 50-day simple moving average is $41.83 and its 200-day simple moving average is $41.65. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 16.88 and a beta of 0.56.
Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.12. The firm had revenue of $929.00 million during the quarter, compared to analysts' expectations of $828.94 million. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. Portland General Electric's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. As a group, equities research analysts predict that Portland General Electric will post 3.08 earnings per share for the current year.
Portland General Electric Increases Dividend
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The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, May 24th will be given a $0.50 dividend. The ex-dividend date is Friday, June 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.54%. This is a boost from Portland General Electric's previous quarterly dividend of $0.48. Portland General Electric's dividend payout ratio (DPR) is currently 72.80%.
Analyst Ratings Changes
Several analysts recently weighed in on the stock. Mizuho reaffirmed a "neutral" rating and issued a $42.00 target price (down previously from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and dropped their target price for the company from $47.00 to $45.00 in a report on Monday, January 29th. StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday, April 30th. Barclays cut their target price on Portland General Electric from $45.00 to $42.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 21st. Finally, Bank of America cut shares of Portland General Electric from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $55.00 to $43.00 in a report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.57.
Read Our Latest Research Report on POR
Institutional Investors Weigh In On Portland General Electric
Several institutional investors and hedge funds have recently made changes to their positions in the business. Johnson Financial Group Inc. acquired a new position in shares of Portland General Electric in the fourth quarter worth $25,000. Fifth Third Bancorp raised its stake in Portland General Electric by 181.8% in the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 409 shares during the last quarter. BKM Wealth Management LLC purchased a new position in Portland General Electric in the 4th quarter valued at about $33,000. Mather Group LLC. purchased a new stake in shares of Portland General Electric during the first quarter worth about $34,000. Finally, Allworth Financial LP raised its position in shares of Portland General Electric by 44.0% in the third quarter. Allworth Financial LP now owns 854 shares of the utilities provider's stock valued at $35,000 after buying an additional 261 shares during the last quarter.
About Portland General Electric
(
Get Free Report)
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. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.
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