Portland General Electric (NYSE:POR) Earns “Neutral” Rating from UBS Group

Portland General Electric (NYSE:POR)‘s stock had its “neutral” rating reissued by equities researchers at UBS Group in a report released on Friday, Marketbeat reports. They presently have a $47.00 price objective on the utilities provider’s stock, down from their previous price objective of $52.00. UBS Group’s price objective would suggest a potential upside of 8.77% from the stock’s previous close.

Several other research firms have also recently commented on POR. KeyCorp lowered their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Jefferies Financial Group initiated coverage on shares of Portland General Electric in a research note on Friday, September 20th. They set a “hold” rating and a $48.00 target price on the stock. Bank of America decreased their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. JPMorgan Chase & Co. raised their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.88.

Portland General Electric Stock Performance

NYSE POR opened at $43.21 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The company has a market cap of $4.56 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.13 and a beta of 0.59. The stock has a 50-day moving average of $46.02 and a two-hundred day moving average of $46.31. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.85.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business earned $0.46 EPS. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, analysts anticipate that Portland General Electric will post 3.11 EPS for the current year.

Institutional Trading of Portland General Electric

A number of large investors have recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after buying an additional 450 shares during the last quarter. Lord Abbett & CO. LLC raised its position in Portland General Electric by 1.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,062,663 shares of the utilities provider’s stock valued at $50,902,000 after purchasing an additional 17,021 shares during the last quarter. Franklin Resources Inc. boosted its stake in Portland General Electric by 114.1% during the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock worth $7,289,000 after purchasing an additional 81,701 shares during the period. Sanctuary Advisors LLC grew its position in Portland General Electric by 53.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 14,254 shares of the utilities provider’s stock worth $678,000 after purchasing an additional 4,936 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in Portland General Electric by 20.2% in the third quarter. Coldstream Capital Management Inc. now owns 6,078 shares of the utilities provider’s stock valued at $291,000 after purchasing an additional 1,020 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.