UBS Group Reiterates Neutral Rating for Portland General Electric (NYSE:POR)

Portland General Electric (NYSE:POR)‘s stock had its “neutral” rating restated by stock analysts at UBS Group in a research report issued on Friday, MarketBeat.com reports. They presently have a $47.00 price objective on the utilities provider’s stock, down from their prior price objective of $52.00. UBS Group’s target price indicates a potential upside of 8.77% from the stock’s current price.

A number of other brokerages also recently weighed in on POR. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI assumed coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target for the company. JPMorgan Chase & Co. increased their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Barclays reduced their price target on shares of 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. Finally, Jefferies Financial Group began coverage on shares of Portland General Electric in a research note on Friday, September 20th. They set a “hold” rating and a $48.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.88.

Portland General Electric Stock Performance

Shares of POR stock opened at $43.21 on Friday. Portland General Electric has a 52-week low of $39.13 and a 52-week 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 stock has a market cap of $4.56 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.13 and a beta of 0.59. The business has a 50-day simple moving average of $46.02 and a 200-day simple moving average of $46.31.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. On average, equities analysts expect that Portland General Electric will post 3.11 EPS for the current year.

Institutional Trading of Portland General Electric

Several institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Portland General Electric in the third quarter valued at $25,000. Allworth Financial LP lifted its position in Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after buying an additional 265 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Portland General Electric during the second quarter worth about $33,000. Versant Capital Management Inc increased its position in shares of Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 450 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Portland General Electric in the 2nd quarter valued at approximately $40,000.

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.