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

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

A number of other analysts have also recently commented on POR. Evercore ISI lifted their price target on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. KeyCorp reduced 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. Jefferies Financial Group dropped their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Finally, UBS Group restated a “neutral” rating and issued a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.00.

Portland General Electric Trading Down 3.6 %

Shares of NYSE:POR opened at $42.69 on Thursday. 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 company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The business’s 50-day moving average is $43.28 and its 200 day moving average is $44.92. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $824.00 million for the quarter, compared to analyst estimates 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 business posted $0.67 EPS. On average, research analysts predict that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Portland General Electric

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in Portland General Electric by 0.8% during the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider’s stock worth $1,305,000 after purchasing an additional 245 shares during the last quarter. Captrust Financial Advisors boosted its position in Portland General Electric by 3.2% during the fourth quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider’s stock worth $379,000 after acquiring an additional 269 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in Portland General Electric by 4.2% during the 4th quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider’s stock valued at $318,000 after acquiring an additional 291 shares in the last quarter. Texas Yale Capital Corp. raised its holdings in Portland General Electric by 2.6% in the 4th quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider’s stock valued at $520,000 after acquiring an additional 300 shares during the last quarter. Finally, Choreo LLC raised its holdings in Portland General Electric by 1.4% in the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock valued at $1,166,000 after acquiring an additional 371 shares during 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.