Portland General Electric (NYSE:POR) Price Target Raised to $55.00

Portland General Electric (NYSE:POR) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $54.00 to $55.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 12.96% from the stock’s previous close.

POR has been the subject of several other reports. Barclays cut Portland General Electric from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $48.00 to $49.00 in a research note on Wednesday, September 18th. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Bank of America assumed coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price for the company. Evercore ISI started coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target on the stock. Finally, KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.25.

Portland General Electric Stock Up 0.3 %

POR stock traded up $0.14 during trading on Wednesday, reaching $48.69. The stock had a trading volume of 176,348 shares, compared to its average volume of 944,704. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a fifty day moving average price of $47.65 and a 200 day moving average price of $45.32. The company has a market capitalization of $5.02 billion, a P/E ratio of 18.64, a PEG ratio of 1.36 and a beta of 0.59. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.45.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $758.00 million for the quarter, compared to analyst estimates of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. On average, equities analysts anticipate that Portland General Electric will post 3.09 earnings per share for the current year.

Insider Activity

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the transaction, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Portland General Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in Portland General Electric in the 3rd quarter valued at about $25,000. LRI Investments LLC acquired a new position in shares of Portland General Electric during the first quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV raised its holdings in Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 514 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Portland General Electric in the second quarter worth approximately $33,000. Finally, Hexagon Capital Partners LLC boosted its stake in Portland General Electric by 140.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 919 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 537 shares in 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.