Zacks Investment Research upgraded shares of Portland General Electric Company (NYSE:POR) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

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. “

A number of other equities analysts have also recently issued reports on POR. JPMorgan Chase & Co. upgraded 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 report on Friday, December 16th. Barclays PLC boosted their target price on shares of Portland General Electric Company from $39.00 to $41.00 and gave the stock a sell rating in a report on Friday, January 20th. Finally, Wolfe Research lowered shares of Portland General Electric Company from a market perform rating to an underperform rating in a report on Tuesday, February 21st. Four research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $42.67.

Shares of Portland General Electric Company (NYSE:POR) traded up 0.70% during mid-day trading on Friday, hitting $45.95. The stock had a trading volume of 203,386 shares. Portland General Electric Company has a one year low of $37.77 and a one year high of $46.11. The firm’s 50 day moving average price is $44.88 and its 200-day moving average price is $43.30. The company has a market cap of $4.09 billion, a PE ratio of 21.27 and a beta of 0.31.

Portland General Electric Company (NYSE:POR) last released its quarterly earnings data on Friday, February 17th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.04. The business earned $524 million during the quarter, compared to analysts’ expectations of $529.73 million. Portland General Electric Company had a net margin of 9.64% and a return on equity of 7.99%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS. On average, equities research analysts anticipate 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. Investors 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 dividend on an annualized basis and a dividend yield of 2.81%. Portland General Electric Company’s payout ratio is presently 62.44%.

In related 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 transaction, the insider now owns 11,425 shares in the company, valued at approximately $503,499.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cable Hill Partners LLC increased its position in Portland General Electric Company by 0.4% in the first quarter. Cable Hill Partners LLC now owns 4,318 shares of the utilities provider’s stock valued at $192,000 after buying an additional 17 shares during the last quarter. FTB Advisors Inc. increased its position in Portland General Electric Company by 0.7% in the third quarter. FTB Advisors Inc. now owns 6,178 shares of the utilities provider’s stock valued at $262,000 after buying an additional 43 shares during the last quarter. Baker Ellis Asset Management LLC increased its position in Portland General Electric Company by 0.5% in the third quarter. Baker Ellis Asset Management LLC now owns 21,740 shares of the utilities provider’s stock valued at $926,000 after buying an additional 100 shares during the last quarter. Alpha Windward LLC increased its position in Portland General Electric Company by 1.1% in the first quarter. Alpha Windward LLC now owns 11,220 shares of the utilities provider’s stock valued at $498,000 after buying an additional 120 shares during the last quarter. Finally, Advisor Group Inc. increased its position in Portland General Electric Company by 3.8% in the third quarter. Advisor Group Inc. now owns 3,334 shares of the utilities provider’s stock valued at $142,000 after buying an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 94.37% of the company’s stock.

Portland General Electric Company Company Profile

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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