Key Points
- Director Robert Hoglund bought 2,000 shares of Portland General Electric at $48.80 each, a $97,600 purchase that lifted his ownership to 2,519 shares.
- The utility recently missed Q1 earnings and revenue estimates, reporting EPS of $0.58 versus $0.77 expected and revenue of $879 million versus $953.24 million expected.
- Portland General Electric raised its quarterly dividend to $0.5513 per share, implying a 4.6% annual yield, while analysts currently rate the stock a consensus Hold with a $51 average price target.
Portland General Electric Company (NYSE:POR - Get Free Report) Director Robert Hoglund acquired 2,000 shares of the firm's stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $48.80 per share, for a total transaction of $97,600.00. Following the completion of the acquisition, the director owned 2,519 shares of the company's stock, valued at approximately $122,927.20. This represents a 385.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Portland General Electric Stock Performance
POR opened at $48.41 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 1.19. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.02 and a beta of 0.54. Portland General Electric Company has a 52-week low of $39.54 and a 52-week high of $54.62. The firm's fifty day simple moving average is $52.02 and its two-hundred day simple moving average is $50.34.
Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.19). The company had revenue of $879.00 million for the quarter, compared to analysts' expectations of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The business's revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. Equities analysts anticipate that Portland General Electric Company will post 3.4 earnings per share for the current fiscal year.
Portland General Electric Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th will be issued a dividend of $0.5513 per share. The ex-dividend date of this dividend is Thursday, June 25th. This is a positive change from Portland General Electric's previous quarterly dividend of $0.53. This represents a $2.21 annualized dividend and a yield of 4.6%. Portland General Electric's payout ratio is 93.75%.
Hedge Funds Weigh In On Portland General Electric
A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Portland General Electric by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 13,020,573 shares of the utilities provider's stock worth $624,857,000 after purchasing an additional 513,517 shares during the period. State Street Corp raised its stake in Portland General Electric by 3.4% during the fourth quarter. State Street Corp now owns 4,728,784 shares of the utilities provider's stock worth $229,333,000 after purchasing an additional 156,164 shares during the period. Clearbridge Investments LLC raised its stake in Portland General Electric by 1,342.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider's stock worth $222,824,000 after purchasing an additional 4,321,305 shares during the period. AQR Capital Management LLC raised its stake in Portland General Electric by 42.2% during the fourth quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider's stock worth $170,448,000 after purchasing an additional 1,054,450 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Portland General Electric by 23.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,985,941 shares of the utilities provider's stock worth $131,381,000 after purchasing an additional 564,379 shares during the period.
Analysts Set New Price Targets
POR has been the topic of several recent analyst reports. BTIG Research reaffirmed a "buy" rating and set a $58.00 price objective on shares of Portland General Electric in a report on Friday, January 30th. UBS Group increased their price objective on shares of Portland General Electric from $53.00 to $55.00 and gave the company a "neutral" rating in a report on Thursday, February 19th. Barclays increased their price objective on shares of Portland General Electric from $47.00 to $53.00 and gave the company an "equal weight" rating in a report on Tuesday, February 17th. BMO Capital Markets reissued a "market perform" rating and issued a $55.00 price target on shares of Portland General Electric in a research note on Thursday, February 19th. Finally, Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $51.00.
Check Out Our Latest Stock Report on Portland General Electric
Portland General Electric Company Profile
(
Get Free Report)
Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.
As one of Oregon's largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.
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