Barclays Raises Portland General Electric (NYSE:POR) Price Target to $47.00

Portland General Electric (NYSE:POR) had its price target hoisted by investment analysts at Barclays from $42.00 to $47.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target would indicate a potential upside of 7.04% from the company’s current price.

Other equities analysts have also recently issued reports about the company. KeyCorp reduced their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a research report on Tuesday, February 18th. Jefferies Financial Group reduced their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. UBS Group restated a “neutral” rating and set a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Finally, Evercore ISI boosted their target price on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Portland General Electric presently has a consensus rating of “Hold” and a consensus price target of $47.00.

Portland General Electric Price Performance

Shares of NYSE POR opened at $43.91 on Tuesday. The stock has a market cap of $4.80 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.11 and a beta of 0.61. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The stock has a fifty day moving average of $42.46 and a 200-day moving average of $45.48.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. During the same period in the previous year, the business earned $0.67 earnings per share. Equities research analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current year.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Portland General Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Menard Financial Group LLC lifted its stake in shares of Portland General Electric by 32.3% in the 4th quarter. Menard Financial Group LLC now owns 5,648 shares of the utilities provider’s stock valued at $246,000 after acquiring an additional 1,378 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Portland General Electric in the 4th quarter valued at about $6,451,000. Mackenzie Financial Corp lifted its stake in shares of Portland General Electric by 145.1% in the 4th quarter. Mackenzie Financial Corp now owns 16,856 shares of the utilities provider’s stock valued at $735,000 after acquiring an additional 9,980 shares during the last quarter. Vise Technologies Inc. lifted its stake in shares of Portland General Electric by 10.7% in the 4th quarter. Vise Technologies Inc. now owns 9,541 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 924 shares during the last quarter. Finally, PharVision Advisers LLC bought a new stake in shares of Portland General Electric in the 4th quarter valued at about $272,000.

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.