Portland General Electric (NYSE:POR) Given New $42.00 Price Target at Barclays

Portland General Electric (NYSE:POR) had its price target lowered by Barclays from $48.00 to $42.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.

POR has been the subject of a number of other research reports. 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. KeyCorp reduced their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. UBS Group restated a “neutral” rating and issued a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. increased their target price on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Portland General Electric has an average rating of “Hold” and an average target price of $48.13.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $42.33 on Monday. Portland General Electric has a one year low of $39.13 and a one year high of $49.85. The stock has a fifty day moving average of $44.33 and a 200-day moving average of $46.26. The company has a market capitalization of $4.46 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.05 and a beta of 0.60. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The company had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts anticipate that Portland General Electric will post 3.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Portland General Electric

A number of hedge funds have recently modified their holdings of the stock. Choreo LLC increased its stake in shares of Portland General Electric by 1.4% in the fourth quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock worth $1,166,000 after acquiring an additional 371 shares during the last quarter. Spirit of America Management Corp NY increased its stake in shares of Portland General Electric by 85.8% in the fourth quarter. Spirit of America Management Corp NY now owns 11,150 shares of the utilities provider’s stock worth $486,000 after acquiring an additional 5,150 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Portland General Electric by 2.4% in the fourth quarter. Retirement Systems of Alabama now owns 128,226 shares of the utilities provider’s stock worth $5,593,000 after acquiring an additional 3,024 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Portland General Electric in the fourth quarter worth $1,963,000. Finally, Scharf Investments LLC increased its stake in shares of Portland General Electric by 3.9% in the fourth quarter. Scharf Investments LLC now owns 90,417 shares of the utilities provider’s stock worth $3,944,000 after acquiring an additional 3,405 shares during the last quarter.

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.