StockNews.com Upgrades Portland General Electric (NYSE:POR) to “Hold”

Portland General Electric (NYSE:POR) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

A number of other brokerages have also commented on POR. Bank of America lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and decreased their price target for the company from $55.00 to $43.00 in a research note on Monday, February 5th. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and decreased their price target for the company from $47.00 to $45.00 in a research note on Monday, January 29th. Mizuho restated a “neutral” rating and set a $42.00 target price (down previously from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. Finally, Barclays decreased their target price on shares of 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. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Portland General Electric has a consensus rating of “Moderate Buy” and an average target price of $45.13.

Portland General Electric Stock Performance

POR traded down $0.14 on Tuesday, reaching $43.23. The company had a trading volume of 1,081,993 shares, compared to its average volume of 974,610. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $51.58. The stock has a market cap of $4.37 billion, a P/E ratio of 16.56 and a beta of 0.57. The company’s fifty day moving average is $41.47 and its 200 day moving average is $41.52. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.12. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The business had revenue of $929.00 million for the quarter, compared to analyst estimates of $828.94 million. During the same quarter in the prior year, the business earned $0.80 EPS. Portland General Electric’s quarterly revenue was up 24.2% on a year-over-year basis. As a group, analysts predict that Portland General Electric will post 3.07 earnings per share for the current fiscal year.

Insider Activity at Portland General Electric

In other news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the transaction, the chief operating officer now owns 31,950 shares of the company’s stock, valued at $1,297,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Portland General Electric

A number of hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp raised its stake in Portland General Electric by 39.3% during the first quarter. Fifth Third Bancorp now owns 883 shares of the utilities provider’s stock worth $37,000 after buying an additional 249 shares during the last quarter. Allworth Financial LP grew its holdings in Portland General Electric by 44.0% in the third quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 261 shares during the period. Xponance Inc. grew its holdings in Portland General Electric by 2.0% in the fourth quarter. Xponance Inc. now owns 14,629 shares of the utilities provider’s stock worth $634,000 after purchasing an additional 282 shares during the period. Strs Ohio grew its holdings in Portland General Electric by 3.3% in the fourth quarter. Strs Ohio now owns 9,500 shares of the utilities provider’s stock worth $411,000 after purchasing an additional 300 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in Portland General Electric by 1.3% in the first quarter. New York State Teachers Retirement System now owns 24,061 shares of the utilities provider’s stock worth $1,011,000 after purchasing an additional 300 shares during the period.

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. 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.