Portland General Electric (NYSE:POR) Price Target Lowered to $43.00 at Bank of America

Portland General Electric (NYSE:POR - Get Free Report) had its price objective cut by stock analysts at Bank of America from $46.00 to $43.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "underperform" rating on the utilities provider's stock. Bank of America's price objective would indicate a potential downside of 1.76% from the company's current price.

Several other research analysts have also commented on POR. Barclays reduced their price target on Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Tuesday, September 24th. Jefferies Financial Group started coverage on shares of Portland General Electric in a report on Friday, September 20th. They issued a "hold" rating and a $48.00 price target on the stock. Finally, KeyCorp decreased their price objective on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $48.63.

Portland General Electric Trading Down 1.0 %

Shares of NYSE POR traded down $0.43 during trading hours on Tuesday, hitting $43.77. 491,642 shares of the company traded hands, compared to its average volume of 963,680. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.13 and a beta of 0.59. The company's 50 day moving average price is $46.81 and its 200 day moving average price is $46.32. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. During the same quarter in the previous year, the business earned $0.46 earnings per share. The company's revenue for the quarter was up 15.8% compared to the same quarter last year. On average, equities research analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Portland General Electric

A number of hedge funds have recently modified their holdings of the business. Y Intercept Hong Kong Ltd purchased a new position in Portland General Electric in the 3rd quarter worth approximately $596,000. Franklin Resources Inc. lifted its position in Portland General Electric by 114.1% in the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock valued at $7,289,000 after buying an additional 81,701 shares during the last quarter. Qsemble Capital Management LP purchased a new stake in shares of Portland General Electric in the 2nd quarter valued at approximately $678,000. Choreo LLC acquired a new position in shares of Portland General Electric in the 2nd quarter worth approximately $965,000. Finally, HighTower Advisors LLC lifted its holdings in shares of Portland General Electric by 14.2% in the 3rd quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider's stock worth $4,114,000 after acquiring an additional 10,643 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.