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. “
Separately, Mizuho set a $103.00 price target on shares of Celgene and gave the stock a buy rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $48.80.
Shares of Portland General Electric stock opened at $54.43 on Friday. Portland General Electric has a 12-month low of $43.32 and a 12-month high of $55.98. The stock has a market capitalization of $4.88 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 4.56 and a beta of 0.24. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.82. The stock has a 50-day moving average price of $54.83.
Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, April 26th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. Portland General Electric had a net margin of 10.67% and a return on equity of 8.84%. The firm had revenue of $573.00 million for the quarter, compared to the consensus estimate of $520.05 million. During the same period in the prior year, the firm posted $0.72 earnings per share. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. As a group, equities research analysts expect that Portland General Electric will post 2.45 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, June 25th were issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.83%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, June 24th. Portland General Electric’s dividend payout ratio is presently 64.98%.
Several hedge funds have recently bought and sold shares of POR. Norges Bank bought a new position in shares of Portland General Electric in the fourth quarter worth approximately $55,862,000. Principal Financial Group Inc. increased its position in shares of Portland General Electric by 63.4% in the first quarter. Principal Financial Group Inc. now owns 1,101,999 shares of the utilities provider’s stock worth $57,128,000 after purchasing an additional 427,754 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Portland General Electric by 92.7% in the first quarter. Acadian Asset Management LLC now owns 596,688 shares of the utilities provider’s stock worth $30,933,000 after purchasing an additional 287,013 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Portland General Electric by 13.1% in the fourth quarter. Geode Capital Management LLC now owns 1,470,193 shares of the utilities provider’s stock worth $67,408,000 after purchasing an additional 170,287 shares during the last quarter. Finally, Scout Investments Inc. increased its position in shares of Portland General Electric by 40.4% in the first quarter. Scout Investments Inc. now owns 565,352 shares of the utilities provider’s stock worth $29,308,000 after purchasing an additional 162,770 shares during the last quarter. Institutional investors own 94.36% of the company’s stock.
Portland General Electric Company Profile
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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