StockNews.com Upgrades Portland General Electric (NYSE:POR) to “Hold”

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

Other research analysts also recently issued reports about the stock. Mizuho reissued a “neutral” rating and set a $42.00 target price (down from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and dropped their price target for the company from $47.00 to $45.00 in a research note on Monday, January 29th. Bank of America cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and dropped their price target for the company from $55.00 to $43.00 in a research note on Monday, February 5th. Finally, Barclays dropped their price target on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Portland General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $45.13.

Portland General Electric Stock Up 1.6 %

Portland General Electric stock opened at $43.92 on Tuesday. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $51.58. The firm has a 50 day moving average price of $41.52 and a 200-day moving average price of $41.54. The company has a market capitalization of $4.53 billion, a P/E ratio of 16.83 and a beta of 0.57. The company has a quick ratio of 1.09, a current ratio of 1.22 and a debt-to-equity ratio of 1.34.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.12. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The firm had revenue of $929.00 million during the quarter, compared to the consensus estimate of $828.94 million. During the same period in the prior year, the firm earned $0.80 EPS. The company’s revenue was up 24.2% compared to the same quarter last year. As a group, equities analysts predict that Portland General Electric will post 3.07 EPS for the current year.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the transaction, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Channing Capital Management LLC bought a new stake in shares of Portland General Electric during the 4th quarter worth $49,763,000. Goldman Sachs Group Inc. lifted its holdings in shares of Portland General Electric by 29.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock worth $196,089,000 after acquiring an additional 1,017,503 shares during the last quarter. Norges Bank bought a new stake in shares of Portland General Electric during the 4th quarter worth $39,112,000. Victory Capital Management Inc. lifted its holdings in shares of Portland General Electric by 69.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,040,841 shares of the utilities provider’s stock worth $42,133,000 after acquiring an additional 425,923 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of Portland General Electric during the 4th quarter worth $17,460,000.

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.