Portland General Electric (NYSE:POR – Free Report) had its target price decreased by Jefferies Financial Group from $47.00 to $42.00 in a research report sent to investors on Tuesday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the utilities provider’s stock.
Several other brokerages also recently weighed in on POR. JPMorgan Chase & Co. upped their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Barclays decreased their price target on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday. Bank of America lowered their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. UBS Group reissued a “neutral” rating and set a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Finally, KeyCorp lowered their price target on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.38.
Portland General Electric Stock Down 0.0 %
Hedge Funds Weigh In On Portland General Electric
Large investors have recently added to or reduced their stakes in the company. Principal Securities Inc. lifted its holdings in Portland General Electric by 23.9% in the fourth quarter. Principal Securities Inc. now owns 6,518 shares of the utilities provider’s stock worth $284,000 after acquiring an additional 1,259 shares during the last quarter. Congress Asset Management Co. raised its position in shares of Portland General Electric by 8.7% during the 4th quarter. Congress Asset Management Co. now owns 132,527 shares of the utilities provider’s stock worth $5,781,000 after purchasing an additional 10,644 shares during the period. Rhumbline Advisers lifted its holdings in shares of Portland General Electric by 4.3% in the 4th quarter. Rhumbline Advisers now owns 367,063 shares of the utilities provider’s stock worth $16,011,000 after purchasing an additional 15,045 shares during the last quarter. Van ECK Associates Corp boosted its position in Portland General Electric by 11.6% during the 4th quarter. Van ECK Associates Corp now owns 93,330 shares of the utilities provider’s stock valued at $4,071,000 after purchasing an additional 9,715 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Portland General Electric by 121.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 27,557 shares of the utilities provider’s stock worth $1,191,000 after buying an additional 15,136 shares during the last quarter.
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.
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