Portland General Electric (NYSE:POR) Raised to Hold at StockNews.com

Portland General Electric (NYSE:POR) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Other equities research analysts have also recently issued reports about the stock. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Barclays lowered Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $48.00 to $49.00 in a report on Wednesday, September 18th. Jefferies Financial Group initiated coverage on Portland General Electric in a report on Friday. They set a “hold” rating and a $48.00 price objective for the company. Finally, Bank of America initiated coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.88.

Portland General Electric Trading Down 1.4 %

NYSE:POR traded down $0.67 on Tuesday, reaching $47.40. The company’s stock had a trading volume of 994,337 shares, compared to its average volume of 962,216. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $49.45. The business’s 50-day moving average price is $47.46 and its two-hundred day moving average price is $44.46. The firm has a market cap of $4.88 billion, a PE ratio of 18.16, a PEG ratio of 1.38 and a beta of 0.59. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00.

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

Insiders Place Their Bets

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. Insiders have sold 5,486 shares of company stock valued at $262,153 in the last 90 days. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Portland General Electric

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in shares of Portland General Electric by 29.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock valued at $196,089,000 after purchasing an additional 1,017,503 shares during the last quarter. Norges Bank acquired a new position in Portland General Electric in the 4th quarter valued at about $39,112,000. Vaughan Nelson Investment Management L.P. bought a new position in Portland General Electric in the 2nd quarter valued at about $31,557,000. Cbre Investment Management Listed Real Assets LLC acquired a new stake in Portland General Electric during the fourth quarter worth approximately $17,460,000. Finally, Marshall Wace LLP boosted its holdings in shares of Portland General Electric by 657.0% during the second quarter. Marshall Wace LLP now owns 314,688 shares of the utilities provider’s stock worth $13,607,000 after acquiring an additional 273,118 shares during the period.

About Portland General Electric

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.