Portland General Electric (NYSE:POR) Stock Price Expected to Rise, Evercore ISI Analyst Says

Portland General Electric (NYSE:POR) had its price objective raised by analysts at Evercore ISI from $50.00 to $51.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Evercore ISI’s price objective would indicate a potential upside of 17.62% from the stock’s previous close.

A number of other brokerages have also commented on POR. UBS Group restated a “neutral” rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. JPMorgan Chase & Co. upped their target price on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America cut their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note on Tuesday. Finally, Barclays cut their target price on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.44.

Portland General Electric Stock Up 1.3 %

Shares of POR stock opened at $43.36 on Tuesday. Portland General Electric has a 12 month low of $39.49 and a 12 month high of $49.85. The firm has a market cap of $4.57 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.06 and a beta of 0.61. The stock has a 50 day moving average of $42.41 and a 200-day moving average of $45.62. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company had revenue of $824.00 million during the quarter, compared to analyst estimates of $716.17 million. During the same period in the previous year, the company earned $0.67 earnings per share. On average, equities analysts predict that Portland General Electric will post 3.2 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Portland General Electric

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Portland General Electric by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock worth $519,651,000 after purchasing an additional 572,531 shares during the last quarter. State Street Corp grew its holdings in shares of Portland General Electric by 1.6% during the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock worth $199,509,000 after purchasing an additional 66,438 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Portland General Electric by 19.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider’s stock worth $172,720,000 after purchasing an additional 635,987 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Portland General Electric by 2.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider’s stock worth $145,403,000 after purchasing an additional 93,903 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Portland General Electric by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider’s stock valued at $108,710,000 after acquiring an additional 47,172 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.