Portland General Electric (NYSE:POR) Rating Increased to Hold at StockNews.com

Portland General Electric (NYSE:POR) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Several other research analysts have also issued reports on the company. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Jefferies Financial Group started coverage on shares of Portland General Electric in a research report on Friday. They set a “hold” rating and a $48.00 target price for the company. Bank of America initiated coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target on the stock. Finally, Barclays lowered shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $48.00 to $49.00 in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.88.

Portland General Electric Price Performance

Shares of NYSE:POR traded down $0.67 during midday trading on Tuesday, reaching $47.40. 994,337 shares of the company’s stock were exchanged, compared to its average volume of 962,216. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00. The company’s 50 day simple moving average is $47.46 and its two-hundred day simple moving average is $44.46. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $49.45. The firm has a market capitalization of $4.88 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 1.38 and a beta of 0.59.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The firm had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $716.43 million. During the same quarter last year, the company earned $0.44 earnings per share. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities research analysts expect that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the sale, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at $1,446,816. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. Insiders sold 5,486 shares of company stock worth $262,153 in the last quarter. Insiders own 0.54% of the company’s stock.

Institutional Trading of Portland General Electric

Institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new stake in Portland General Electric in the second quarter valued at about $399,000. Dana Investment Advisors Inc. grew its position in shares of Portland General Electric by 1.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 120,518 shares of the utilities provider’s stock worth $5,211,000 after buying an additional 1,883 shares during the period. Cetera Investment Advisers raised its position in shares of Portland General Electric by 6.1% in the 2nd quarter. Cetera Investment Advisers now owns 56,066 shares of the utilities provider’s stock valued at $2,424,000 after acquiring an additional 3,233 shares during the period. Point72 Asset Management L.P. bought a new position in Portland General Electric during the 2nd quarter worth approximately $7,459,000. Finally, Quarry LP grew its holdings in Portland General Electric by 962.3% during the second quarter. Quarry LP now owns 1,636 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 1,482 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.