Portland General Electric (NYSE:POR) Stock Rating Upgraded by UBS Group

Portland General Electric (NYSE:POR) was upgraded by stock analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat reports. The firm currently has a $50.00 price objective on the utilities provider’s stock, up from their previous price objective of $47.00. UBS Group’s price objective would suggest a potential upside of 17.35% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Evercore ISI dropped their price target on Portland General Electric from $51.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Tuesday, February 18th. Wells Fargo & Company reduced their price target on Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Barclays dropped their price objective on shares of Portland General Electric from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Finally, Jefferies Financial Group reduced their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Portland General Electric presently has an average rating of “Hold” and a consensus price target of $45.40.

Portland General Electric Stock Up 0.5 %

Shares of POR opened at $42.61 on Monday. The stock has a 50 day moving average price of $43.29 and a 200 day moving average price of $44.05. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.11 and a beta of 0.57. Portland General Electric has a one year low of $40.05 and a one year high of $49.85.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The business had revenue of $928.00 million during the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. Portland General Electric’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the company earned $1.21 earnings per share. Equities research analysts forecast that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Insider Transactions at Portland General Electric

In related news, EVP Benjamin Felton sold 1,845 shares of the business’s stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the transaction, the executive vice president now directly owns 32,646 shares of the company’s stock, valued at $1,404,430.92. The trade was a 5.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,795 shares of company stock valued at $159,946. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Portland General Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Neo Ivy Capital Management acquired a new position in shares of Portland General Electric during the 1st quarter worth about $74,000. Cetera Investment Advisers lifted its stake in Portland General Electric by 0.7% during the first quarter. Cetera Investment Advisers now owns 53,145 shares of the utilities provider’s stock worth $2,370,000 after purchasing an additional 391 shares during the last quarter. John G Ullman & Associates Inc. lifted its stake in Portland General Electric by 41.5% during the first quarter. John G Ullman & Associates Inc. now owns 180,511 shares of the utilities provider’s stock worth $8,051,000 after purchasing an additional 52,901 shares during the last quarter. Burney Co. boosted its holdings in Portland General Electric by 223.7% in the first quarter. Burney Co. now owns 92,326 shares of the utilities provider’s stock valued at $4,118,000 after purchasing an additional 63,807 shares in the last quarter. Finally, Legato Capital Management LLC increased its stake in Portland General Electric by 53.2% in the first quarter. Legato Capital Management LLC now owns 14,594 shares of the utilities provider’s stock valued at $651,000 after purchasing an additional 5,066 shares during 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, 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.