Portland General Electric (NYSE:POR) Price Target Raised to $47.00 at Barclays

Portland General Electric (NYSE:POR) had its price target increased by equities researchers at Barclays from $42.00 to $47.00 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 objective would suggest a potential upside of 4.03% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research report on Tuesday, February 18th. KeyCorp lowered their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Jefferies Financial Group cut their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Bank of America lowered their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. Finally, Evercore ISI boosted their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $47.00.

Portland General Electric Trading Up 0.8 %

Shares of Portland General Electric stock opened at $45.18 on Tuesday. The stock has a 50 day moving average of $42.44 and a 200 day moving average of $45.51. 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 firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.11 and a beta of 0.61. Portland General Electric has a fifty-two week low of $39.87 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same period last year, the company earned $0.67 EPS. As a group, research analysts predict that Portland General Electric will post 3.21 earnings per share for the current year.

Insider Activity at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in POR. Norges Bank purchased a new stake in Portland General Electric during the fourth quarter worth approximately $62,004,000. Zimmer Partners LP lifted its position in shares of Portland General Electric by 107.0% during the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after buying an additional 952,214 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Portland General Electric in the 4th quarter valued at $32,553,000. Fuller & Thaler Asset Management Inc. grew its position in shares of Portland General Electric by 19.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider’s stock valued at $172,720,000 after buying an additional 635,987 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Portland General Electric by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock worth $519,651,000 after acquiring an additional 572,531 shares in 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.