Portland General Electric (NYSE:POR) Price Target Cut to $48.00 by Analysts at Barclays

Portland General Electric (NYSE:POR - Get Free Report) had its price target cut by stock analysts at Barclays from $49.00 to $48.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an "equal weight" rating on the utilities provider's stock. Barclays's price target would suggest a potential upside of 0.67% from the stock's previous close.

Several other brokerages also recently commented on POR. Jefferies Financial Group assumed coverage on Portland General Electric in a research note on Friday, September 20th. They set a "hold" rating and a $48.00 target price for the company. Bank of America began coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an "underperform" rating and a $47.00 price objective for the company. KeyCorp raised shares of Portland General Electric from a "sector weight" rating to an "overweight" rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Finally, Evercore ISI started coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They issued an "outperform" rating and a $54.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $48.13.

Portland General Electric Stock Down 2.1 %

Shares of NYSE POR traded down $1.02 during trading hours on Tuesday, hitting $47.68. The company had a trading volume of 1,452,293 shares, compared to its average volume of 953,399. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.85. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The firm's 50 day moving average is $47.83 and its 200-day moving average is $45.53. The stock has a market capitalization of $4.91 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 1.22 and a beta of 0.59.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.01. The firm had revenue of $929.00 million during the quarter, compared to analysts' expectations of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. On average, analysts expect that Portland General Electric will post 3.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP John Teeruk Kochavatr sold 1,100 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the sale, the vice president now owns 22,606 shares of the company's stock, valued at $1,045,527.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now directly owns 22,606 shares of the company's stock, valued at $1,045,527.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now owns 14,263 shares of the company's stock, valued at $688,902.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in POR. Allworth Financial LP lifted its stake in shares of Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 265 shares during the last quarter. Retirement Systems of Alabama raised its position in Portland General Electric by 0.3% in the first quarter. Retirement Systems of Alabama now owns 126,987 shares of the utilities provider's stock valued at $5,333,000 after purchasing an additional 335 shares during the last quarter. First Pacific Financial raised its position in Portland General Electric by 2.9% in the third quarter. First Pacific Financial now owns 12,331 shares of the utilities provider's stock valued at $591,000 after purchasing an additional 347 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Portland General Electric by 20.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider's stock valued at $107,000 after purchasing an additional 413 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Portland General Electric by 94.5% during the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider's stock worth $39,000 after purchasing an additional 451 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.