Jefferies Financial Group Cuts Portland General Electric (NYSE:POR) Price Target to $42.00

Portland General Electric (NYSE:PORFree Report) had its price target trimmed by Jefferies Financial Group from $47.00 to $42.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a hold rating on the utilities provider’s stock.

Other equities analysts also recently issued reports about the company. KeyCorp cut their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. UBS Group reiterated a “neutral” rating and issued a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Barclays decreased their target price on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. increased their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Bank of America decreased 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 report on Tuesday, December 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.38.

Check Out Our Latest Stock Analysis on Portland General Electric

Portland General Electric Trading Down 0.0 %

Shares of Portland General Electric stock opened at $41.27 on Tuesday. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth 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’s 50-day simple moving average is $44.02 and its 200-day simple moving average is $46.19. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28.

Hedge Funds Weigh In On Portland General Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its stake in shares of Portland General Electric by 1.6% during the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock worth $199,509,000 after purchasing an additional 66,438 shares in the last quarter. Geode Capital Management LLC increased its position in Portland General Electric by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after buying an additional 25,332 shares in the last quarter. Zimmer Partners LP raised its holdings in shares of Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after acquiring an additional 952,214 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Portland General Electric by 4.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,781 shares of the utilities provider’s stock worth $57,220,000 after acquiring an additional 51,936 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Portland General Electric by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock valued at $61,219,000 after acquiring an additional 13,720 shares in the last quarter.

About Portland General Electric

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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.

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Analyst Recommendations for Portland General Electric (NYSE:POR)

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