Barclays Issues Pessimistic Forecast for Portland General Electric (NYSE:POR) Stock Price

Portland General Electric (NYSE:POR) had its target price reduced by equities researchers at Barclays from $48.00 to $42.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target suggests a potential upside of 0.60% from the stock’s current price.

POR has been the subject of a number of other research reports. KeyCorp dropped their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Bank of America reduced their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research note on Tuesday, December 24th. JPMorgan Chase & Co. upped their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, UBS Group reiterated a “neutral” rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $47.38.

Portland General Electric Price Performance

POR opened at $41.75 on Monday. The company has a fifty day moving average price of $44.14 and a two-hundred day moving average price of $46.22. The firm has a market capitalization of $4.40 billion, a PE ratio of 12.46, a P/E/G ratio of 1.05 and a beta of 0.60. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98.

Institutional Investors Weigh In On Portland General Electric

Several institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Portland General Electric in the 3rd quarter valued at about $25,000. Newbridge Financial Services Group Inc. bought a new position in shares of Portland General Electric during the fourth quarter worth about $29,000. Allworth Financial LP raised its position in 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 buying an additional 265 shares during the last quarter. Versant Capital Management Inc lifted its stake in Portland General Electric by 151.0% in the 4th 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 in the last quarter. Finally, Quarry LP boosted its position in Portland General Electric by 962.3% during the 2nd quarter. Quarry LP now owns 1,636 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 1,482 shares during 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.