Portland General Electric (NYSE:POR) Coverage Initiated at Evercore ISI

Equities researchers at Evercore ISI initiated coverage on shares of Portland General Electric (NYSE:POR) in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $54.00 price target on the utilities provider’s stock. Evercore ISI’s target price indicates a potential upside of 13.94% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Barclays downgraded shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $48.00 to $49.00 in a report on Wednesday, September 18th. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday. Bank of America started coverage on 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. Finally, Jefferies Financial Group assumed coverage on shares of Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.78.

Portland General Electric Stock Down 1.4 %

NYSE POR opened at $47.40 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $49.45. The stock’s 50 day moving average is $47.46 and its 200 day moving average is $44.46. The stock has a market cap of $4.89 billion, a PE ratio of 18.16, a P/E/G ratio of 1.36 and a beta of 0.59.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm had revenue of $758.00 million for the quarter, compared to the consensus estimate of $716.43 million. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. Research analysts predict that Portland General Electric will post 3.08 EPS for the current fiscal year.

Insider Buying and Selling at Portland General Electric

In other news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the sale, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the transaction, the vice president now owns 22,606 shares of the company’s stock, valued at $1,045,527.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 of the company’s stock, valued at $688,902.90. The disclosure for this sale can be found here. Insiders have sold 5,486 shares of company stock worth $262,153 over the last quarter. Insiders own 0.54% of the company’s stock.

Institutional Trading of Portland General Electric

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Portland General Electric by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock valued at $483,069,000 after buying an additional 212,981 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Portland General Electric by 29.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock worth $196,089,000 after acquiring an additional 1,017,503 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Portland General Electric by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after acquiring an additional 86,718 shares in the last quarter. HITE Hedge Asset Management LLC raised its stake in shares of Portland General Electric by 7.1% during the second quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock valued at $64,216,000 after acquiring an additional 97,922 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Portland General Electric by 24.5% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,265,745 shares of the utilities provider’s stock valued at $54,857,000 after purchasing an additional 249,350 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.