Portland General Electric (NYSE:POR) Cut to Sell at StockNews.com

Portland General Electric (NYSE:POR) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

POR has been the topic of several other research reports. Evercore ISI upped their price target on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Tuesday, February 18th. Jefferies Financial Group dropped their price target on shares of 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. 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. Finally, KeyCorp dropped their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $47.00.

Portland General Electric Trading Down 3.6 %

Shares of POR opened at $42.69 on Thursday. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The firm has a market capitalization of $4.68 billion, a P/E ratio of 14.18, a P/E/G ratio of 1.11 and a beta of 0.55. The firm has a 50-day moving average price of $43.28 and a 200 day moving average price of $44.92. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

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

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the 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 sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is currently owned by company insiders.

Institutional Trading of Portland General Electric

A number of large investors have recently made changes to their positions in POR. True Wealth Design LLC acquired a new position in Portland General Electric during the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Portland General Electric during the fourth quarter worth $29,000. Versant Capital Management Inc grew its stake 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 worth $33,000 after purchasing an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after buying an additional 769 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Portland General Electric in the fourth quarter valued at $52,000.

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.