Portland General Electric (NYSE:POR) Price Target Lowered to $42.00 at Barclays

Portland General Electric (NYSE:POR) had its price target cut by equities research analysts at Barclays from $48.00 to $42.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective would suggest a potential upside of 1.85% from the company’s current price.

A number of other research firms have also weighed in on POR. KeyCorp cut their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Bank of America reduced their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. JPMorgan Chase & Co. lifted their price objective 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. Finally, UBS Group restated a “neutral” rating and set a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $48.13.

Portland General Electric Trading Up 0.6 %

Shares of NYSE POR opened at $41.24 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $4.35 billion, a PE ratio of 12.31, a PEG ratio of 1.05 and a beta of 0.60. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85. The stock has a fifty day simple moving average of $44.33 and a 200-day simple moving average of $46.26.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share. On average, equities analysts forecast that Portland General Electric will post 3.11 earnings per share for the current year.

Institutional Trading of Portland General Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted 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 period. Geode Capital Management LLC raised its position in Portland General Electric by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after buying an additional 25,332 shares during the last quarter. Zimmer Partners LP lifted its stake in shares of Portland General Electric by 107.0% in the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after acquiring an additional 952,214 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Portland General Electric by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock valued at $61,219,000 after acquiring an additional 13,720 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Portland General Electric by 72.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock worth $60,346,000 after acquiring an additional 530,020 shares during the period.

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.