Portland General Electric (NYSE:POR) Coverage Initiated at Jefferies Financial Group

Research analysts at Jefferies Financial Group began coverage on shares of Portland General Electric (NYSE:POR) in a research report issued on Friday, Marketbeat reports. The brokerage set a “hold” rating and a $48.00 price target on the utilities provider’s stock. Jefferies Financial Group’s target price suggests a potential upside of 0.25% from the stock’s previous close.

A number of other research firms also recently weighed in on POR. StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Bank of America assumed coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price for the company. Barclays downgraded shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $48.00 to $49.00 in a research note on Wednesday. Finally, KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.88.

Portland General Electric Stock Performance

NYSE:POR opened at $47.88 on Friday. The stock’s 50-day moving average is $47.32 and its 200-day moving average is $44.27. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $49.45. 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 stock has a market cap of $4.93 billion, a P/E ratio of 18.34 and a beta of 0.59.

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

Insiders Place Their Bets

In other Portland General Electric news, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the transaction, the chief operating officer now owns 30,142 shares in the company, valued at $1,446,816. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Portland General Electric news, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the sale, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,486 shares of company stock worth $262,153. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Cullen Capital Management LLC bought a new position in shares of Portland General Electric during the 4th quarter worth approximately $1,089,000. Gabelli Funds LLC boosted its position in Portland General Electric by 3.8% in the first quarter. Gabelli Funds LLC now owns 297,049 shares of the utilities provider’s stock worth $12,476,000 after purchasing an additional 11,000 shares during the last quarter. Quadrature Capital Ltd bought a new position in Portland General Electric in the 4th quarter valued at $1,181,000. Jane Street Group LLC increased its position in shares of Portland General Electric by 274.5% during the 1st quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider’s stock valued at $8,303,000 after purchasing an additional 144,900 shares during the last quarter. Finally, Edgestream Partners L.P. raised its stake in shares of Portland General Electric by 299.1% during the 1st quarter. Edgestream Partners L.P. now owns 102,993 shares of the utilities provider’s stock worth $4,326,000 after purchasing an additional 77,185 shares during the period.

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.