Portland General Electric Company (POR) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Portland General Electric Company (NYSE:POR) from a hold rating to a sell rating in a research report sent to investors on Friday 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 research firms have also recently commented on POR. Barclays PLC boosted their price target on Portland General Electric Company from $39.00 to $41.00 and gave the stock a sell rating in a report on Friday, January 20th. JPMorgan Chase & Co. raised Portland General Electric Company from an underweight rating to a neutral rating and set a $44.00 price target for the company in a report on Friday, December 16th. Wolfe Research cut Portland General Electric Company from a market perform rating to an underperform rating in a report on Tuesday, February 21st. Finally, Bank of America Corp cut Portland General Electric Company from a neutral rating to an underperform rating and set a $39.00 price target for the company. in a report on Tuesday, November 22nd. Five research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company presently has a consensus rating of Sell and a consensus target price of $42.67.

Shares of Portland General Electric Company (NYSE:POR) traded down 1.18% during trading on Friday, reaching $44.47. The company’s stock had a trading volume of 286,658 shares. The company’s 50 day moving average price is $44.06 and its 200 day moving average price is $42.95. The firm has a market cap of $3.96 billion, a PE ratio of 20.59 and a beta of 0.31. Portland General Electric Company has a 12 month low of $37.77 and a 12 month high of $46.05.

Portland General Electric Company (NYSE:POR) last posted its quarterly earnings results on Friday, February 17th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Portland General Electric Company had a return on equity of 7.99% and a net margin of 9.64%. The company earned $524 million during the quarter, compared to analysts’ expectations of $529.73 million. During the same quarter in the previous year, the firm earned $0.57 EPS. Portland General Electric Company’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that Portland General Electric Company will post $2.26 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Monday, March 27th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, March 23rd. This represents a $1.28 dividend on an annualized basis and a yield of 2.84%. Portland General Electric Company’s payout ratio is presently 62.44%.

In other Portland General Electric Company news, insider Maria M. Pope sold 10,838 shares of the company’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $44.07, for a total value of $477,630.66. Following the completion of the transaction, the insider now owns 11,425 shares of the company’s stock, valued at approximately $503,499.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of POR. PNC Financial Services Group Inc. boosted its position in shares of Portland General Electric Company by 7.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,267 shares of the company’s stock worth $140,000 after buying an additional 230 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Portland General Electric Company by 3.8% in the third quarter. Advisor Group Inc. now owns 3,334 shares of the company’s stock worth $142,000 after buying an additional 121 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Portland General Electric Company by 202.0% in the second quarter. IFP Advisors Inc now owns 4,291 shares of the company’s stock worth $189,000 after buying an additional 2,870 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Portland General Electric Company during the third quarter worth about $215,000. Finally, FTB Advisors Inc. boosted its position in shares of Portland General Electric Company by 0.7% in the third quarter. FTB Advisors Inc. now owns 6,178 shares of the company’s stock worth $262,000 after buying an additional 43 shares during the last quarter. 94.37% of the stock is owned by institutional investors and hedge funds.

Portland General Electric Company Company Profile

Portland General Electric Company (PGE) is an electric utility company. The Company is engaged in the generation, wholesale purchase, transmission, distribution and retail sale of electricity in the state of Oregon. The Company also sells electricity and natural gas in the wholesale market to utilities, brokers and power marketers.

5 Day Chart for NYSE:POR

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