Jefferies Financial Group Lowers Portland General Electric (NYSE:POR) Price Target to $42.00

Portland General Electric (NYSE:POR) had its price target decreased by investment analysts at Jefferies Financial Group from $47.00 to $42.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the utilities provider’s stock. Jefferies Financial Group’s target price indicates a potential upside of 1.70% from the stock’s previous close.

Several other research analysts also recently issued reports on POR. Bank of America cut their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. Barclays reduced their price objective on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. KeyCorp reduced their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, UBS Group reiterated a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $47.38.

Portland General Electric Price Performance

Shares of NYSE POR opened at $41.30 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The company’s 50-day moving average price is $44.02 and its 200 day moving average price is $46.19. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.05 and a beta of 0.60.

Hedge Funds Weigh In On Portland General Electric

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its stake in shares of Portland General Electric by 1.6% during the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after buying an additional 66,438 shares during the period. Geode Capital Management LLC boosted its holdings in Portland General Electric by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock valued at $117,114,000 after acquiring an additional 25,332 shares during the last quarter. Zimmer Partners LP grew its position in Portland General Electric by 107.0% during the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after acquiring an additional 952,214 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in Portland General Electric by 4.1% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,781 shares of the utilities provider’s stock worth $57,220,000 after acquiring an additional 51,936 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Portland General Electric by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock worth $61,219,000 after purchasing an additional 13,720 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.