Bank of America Issues Pessimistic Forecast for Portland General Electric (NYSE:POR) Stock Price

Portland General Electric (NYSE:POR) had its target price dropped by investment analysts at Bank of America from $46.00 to $43.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the utilities provider’s stock. Bank of America‘s price objective indicates a potential downside of 1.76% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on POR. Jefferies Financial Group assumed coverage on Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price target for the company. Barclays cut their price target on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Evercore ISI initiated coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. Finally, 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 research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and an average target price of $48.63.

Portland General Electric Stock Down 1.0 %

Shares of NYSE:POR opened at $43.77 on Tuesday. The company’s fifty day moving average is $46.72 and its 200-day moving average is $46.32. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The company has a market capitalization of $4.62 billion, a PE ratio of 13.07, a P/E/G ratio of 1.13 and a beta of 0.59.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. Equities research analysts predict that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Institutional Trading of Portland General Electric

Institutional investors have recently bought and sold shares of the business. Whittier Trust Co. boosted its position in shares of Portland General Electric by 3.9% in the 2nd quarter. Whittier Trust Co. now owns 99,508 shares of the utilities provider’s stock worth $4,302,000 after purchasing an additional 3,703 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Portland General Electric by 3.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 52,222 shares of the utilities provider’s stock valued at $2,257,000 after buying an additional 1,944 shares during the period. Ridgewood Investments LLC bought a new position in Portland General Electric during the second quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Portland General Electric by 13.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,019 shares of the utilities provider’s stock worth $952,000 after buying an additional 2,594 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Portland General Electric by 21.1% in the 2nd quarter. Signaturefd LLC now owns 3,091 shares of the utilities provider’s stock valued at $134,000 after acquiring an additional 539 shares during the last quarter.

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.