Portland General Electric (NYSE:POR – Get Rating) had its price target lowered by investment analysts at Credit Suisse Group from $52.00 to $50.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “underperform” rating on the utilities provider’s stock. Credit Suisse Group’s target price points to a potential downside of 3.38% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and boosted their price target for the company from $49.00 to $52.00 in a research note on Thursday, June 2nd. Bank of America lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a report on Monday, August 1st. Mizuho upped their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, August 26th. StockNews.com raised shares of Portland General Electric from a “hold” rating to a “buy” rating in a report on Monday, August 1st. Finally, Barclays lowered their price objective on shares of Portland General Electric from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $52.00.
Portland General Electric Stock Performance
Portland General Electric stock traded down $1.37 during trading on Tuesday, hitting $51.75. The stock had a trading volume of 11,182 shares, compared to its average volume of 549,768. The stock’s 50 day moving average is $51.78 and its two-hundred day moving average is $51.18. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 4.95 and a beta of 0.51. The company has a quick ratio of 0.77, a current ratio of 0.87 and a debt-to-equity ratio of 1.31. Portland General Electric has a 1 year low of $45.02 and a 1 year high of $57.03.
Portland General Electric (NYSE:POR – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.32. Portland General Electric had a net margin of 9.73% and a return on equity of 8.87%. The firm had revenue of $591.00 million for the quarter, compared to analysts’ expectations of $531.67 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, analysts predict that Portland General Electric will post 2.82 EPS for the current year.
Insider Buying and Selling
In related news, VP John Teeruk Kochavatr sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $53.72, for a total transaction of $107,440.00. Following the transaction, the vice president now owns 14,112 shares of the company’s stock, valued at $758,096.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.
Hedge Funds Weigh In On Portland General Electric
Several hedge funds have recently added to or reduced their stakes in POR. Wedge Capital Management L L P NC raised its stake in Portland General Electric by 6.4% in the first quarter. Wedge Capital Management L L P NC now owns 725,178 shares of the utilities provider’s stock valued at $39,994,000 after buying an additional 43,900 shares during the period. Alberta Investment Management Corp bought a new stake in Portland General Electric in the 4th quarter valued at about $922,000. IndexIQ Advisors LLC bought a new position in shares of Portland General Electric during the first quarter worth approximately $410,000. Blair William & Co. IL raised its position in shares of Portland General Electric by 6.5% in the fourth quarter. Blair William & Co. IL now owns 11,828 shares of the utilities provider’s stock valued at $626,000 after buying an additional 725 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Portland General Electric by 14.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 187,667 shares of the utilities provider’s stock worth $10,350,000 after purchasing an additional 24,217 shares in the last quarter. Institutional investors and hedge funds own 99.67% 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. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.