UBS Group upgraded shares of Portland General Electric (NYSE:POR – Free Report) from a neutral rating to a buy rating in a research note issued to investors on Monday, Marketbeat.com reports. The firm currently has $45.00 price target on the utilities provider’s stock, down from their previous price target of $47.00.
A number of other research analysts have also commented on the company. StockNews.com lowered Portland General Electric from a hold rating to a sell rating in a research note on Sunday, October 1st. Mizuho reduced their target price on Portland General Electric from $42.00 to $40.00 and set a neutral rating on the stock in a report on Tuesday, October 31st. Guggenheim dropped their price target on Portland General Electric from $48.00 to $45.00 in a research report on Monday, October 9th. LADENBURG THALM/SH SH started coverage on Portland General Electric in a research report on Thursday, November 9th. They issued a buy rating and a $43.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on Portland General Electric from $52.00 to $45.00 and set an equal weight rating on the stock in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Portland General Electric has a consensus rating of Moderate Buy and a consensus price target of $46.89.
Portland General Electric Stock Down 0.7 %
Institutional Trading of Portland General Electric
Large investors have recently bought and sold shares of the company. Fifth Third Bancorp raised its position in Portland General Electric by 181.8% during the fourth quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 409 shares in the last quarter. Spirit of America Management Corp NY purchased a new position in Portland General Electric during the 3rd quarter valued at about $32,000. BKM Wealth Management LLC purchased a new position in Portland General Electric during the 4th quarter valued at about $33,000. Allworth Financial LP boosted its position in Portland General Electric by 44.0% during the 3rd quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 261 shares in the last quarter. Finally, IMA Wealth Inc. boosted its position in Portland General Electric by 100.0% during the 2nd quarter. IMA Wealth Inc. now owns 786 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 393 shares in the last quarter.
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, 2022, the company owned an electric transmission system consisting of 1,255 circuit miles, including 269 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 573 miles of 115 kilovolt line; and served 926 thousand retail customers in 51 cities.
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