Portland General Electric (NYSE:POR) PT Raised to $55.00 at JPMorgan Chase & Co.

Portland General Electric (NYSE:POR) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $54.00 to $55.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 12.66% from the stock’s previous close.

Several other brokerages also recently commented on POR. Barclays downgraded Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $48.00 to $49.00 in a research note on Wednesday, September 18th. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Jefferies Financial Group started 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. Evercore ISI assumed coverage on Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target for the company. Finally, StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $48.25.

Portland General Electric Stock Down 0.4 %

Shares of POR opened at $48.82 on Wednesday. The firm has a 50 day simple moving average of $47.76 and a two-hundred day simple moving average of $45.37. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. Portland General Electric has a one year low of $39.13 and a one year high of $49.45. The company has a market cap of $5.03 billion, a P/E ratio of 16.78, a P/E/G ratio of 1.37 and a beta of 0.59.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. Portland General Electric’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 EPS. Research analysts forecast that Portland General Electric will post 3.09 EPS for the current fiscal year.

Insider Transactions at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s 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 sale, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, 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 completion of the transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the company’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 sale, the senior vice president now owns 14,263 shares in the company, valued at approximately $688,902.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Portland General Electric

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Portland General Electric by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock worth $483,069,000 after buying an additional 212,981 shares during the period. Dimensional Fund Advisors LP increased its stake in Portland General Electric by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after purchasing an additional 86,718 shares in the last quarter. HITE Hedge Asset Management LLC raised its holdings in shares of Portland General Electric by 7.1% during the second quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock valued at $64,216,000 after purchasing an additional 97,922 shares during the period. Victory Capital Management Inc. boosted its position in shares of Portland General Electric by 6.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock worth $46,561,000 after purchasing an additional 69,392 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Portland General Electric by 1.0% in the 1st quarter. ProShare Advisors LLC now owns 948,014 shares of the utilities provider’s stock valued at $39,817,000 after buying an additional 9,786 shares in 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.