Portland General Electric (NYSE:POR) Cut to Sell at StockNews.com

Portland General Electric (NYSE:POR - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts have also weighed in on POR. Barclays upped their target price on Portland General Electric from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Evercore ISI upped their price objective on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Bank of America reduced their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a report on Tuesday, December 24th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price on the stock. in a report on Tuesday, February 18th. Finally, UBS Group reiterated a "neutral" rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Portland General Electric has an average rating of "Hold" and an average price target of $47.00.

Remove Ads

Portland General Electric Trading Up 0.9 %

Shares of NYSE:POR traded up $0.39 during mid-day trading on Thursday, hitting $41.97. The company had a trading volume of 523,832 shares, compared to its average volume of 1,020,452. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a one year low of $40.05 and a one year high of $49.85. The firm has a fifty day moving average price of $43.26 and a 200 day moving average price of $44.82. The company has a market capitalization of $4.60 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same period in the previous year, the firm posted $0.67 earnings per share. As a group, research analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's 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 transaction, the chief financial officer now owns 31,960 shares of the company's stock, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Portland General Electric

Institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its holdings in Portland General Electric by 0.8% during the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock worth $1,305,000 after purchasing an additional 245 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Portland General Electric by 3.2% in the fourth quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider's stock worth $379,000 after buying an additional 269 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Portland General Electric by 4.2% in the fourth quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider's stock valued at $318,000 after acquiring an additional 291 shares during the period. Texas Yale Capital Corp. grew its stake in Portland General Electric by 2.6% during the fourth quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider's stock valued at $520,000 after acquiring an additional 300 shares in the last quarter. Finally, Choreo LLC increased its holdings in Portland General Electric by 1.4% during the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider's stock worth $1,166,000 after acquiring an additional 371 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.