Portland General Electric (NYSE:POR) Coverage Initiated by Analysts at Jefferies Financial Group

Investment analysts at Jefferies Financial Group started coverage on shares of Portland General Electric (NYSE:POR) in a research report issued on Friday, Marketbeat Ratings reports. The firm set a “hold” rating and a $48.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 0.25% from the company’s current price.

A number of other equities research analysts have also weighed in on POR. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Bank of America began coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target for the company. StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Finally, Barclays downgraded Portland General Electric from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $48.00 to $49.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Portland General Electric has a consensus rating of “Hold” and a consensus price target of $45.88.

Portland General Electric Price Performance

Shares of NYSE POR opened at $47.88 on Friday. The stock’s 50-day simple moving average is $47.32 and its two-hundred day simple moving average is $44.27. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $49.45. The firm has a market capitalization of $4.93 billion, a P/E ratio of 18.34 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The firm had revenue of $758.00 million for the quarter, compared to analyst estimates of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The company’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS. As a group, equities analysts anticipate that Portland General Electric will post 3.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the transaction, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the sale, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the transaction, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The disclosure for this sale can be found here. Insiders sold 5,486 shares of company stock worth $262,153 over the last three months. Company insiders own 0.54% of the company’s stock.

Institutional Trading of Portland General Electric

Several institutional investors have recently bought and sold shares of the company. Cullen Capital Management LLC bought a new position in shares of Portland General Electric in the fourth quarter worth approximately $1,089,000. Gabelli Funds LLC lifted its position in Portland General Electric by 3.8% in the 1st quarter. Gabelli Funds LLC now owns 297,049 shares of the utilities provider’s stock valued at $12,476,000 after acquiring an additional 11,000 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Portland General Electric during the 4th quarter valued at $1,181,000. Jane Street Group LLC boosted its stake in Portland General Electric by 274.5% during the 1st quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider’s stock valued at $8,303,000 after purchasing an additional 144,900 shares during the last quarter. Finally, Edgestream Partners L.P. raised its stake in shares of Portland General Electric by 299.1% in the first quarter. Edgestream Partners L.P. now owns 102,993 shares of the utilities provider’s stock worth $4,326,000 after purchasing an additional 77,185 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.