Bank of America Has Lowered Expectations for Portland General Electric (NYSE:POR) Stock Price

Portland General Electric (NYSE:POR) had its price objective dropped by equities researchers at Bank of America from $46.00 to $43.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the utilities provider’s stock. Bank of America‘s target price would indicate a potential downside of 1.76% from the stock’s previous close.

A number of other brokerages have also recently weighed in on POR. KeyCorp reduced their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Jefferies Financial Group began coverage on Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays decreased their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Finally, StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.63.

Portland General Electric Trading Down 1.0 %

Shares of NYSE POR opened at $43.77 on Tuesday. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.13 and a beta of 0.59. The business has a 50 day simple moving average of $46.72 and a 200 day simple moving average of $46.32. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same quarter in the prior year, the business posted $0.46 EPS. Portland General Electric’s quarterly revenue was up 15.8% on a year-over-year basis. On average, research analysts predict that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portland General Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. increased its position in shares of Portland General Electric by 3.9% during the second quarter. Whittier Trust Co. now owns 99,508 shares of the utilities provider’s stock valued at $4,302,000 after purchasing an additional 3,703 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Portland General Electric by 3.9% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 52,222 shares of the utilities provider’s stock valued at $2,257,000 after buying an additional 1,944 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of Portland General Electric during the 2nd quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Portland General Electric by 13.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,019 shares of the utilities provider’s stock valued at $952,000 after acquiring an additional 2,594 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Portland General Electric by 21.1% in the second quarter. Signaturefd LLC now owns 3,091 shares of the utilities provider’s stock valued at $134,000 after acquiring an additional 539 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.