Portland General Electric (NYSE:POR) Receives $47.38 Consensus Price Target from Brokerages

Portland General Electric (NYSE:POR) has received an average rating of “Hold” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $47.38.

POR has been the subject of several analyst reports. Barclays dropped their target price on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. KeyCorp dropped their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Bank of America decreased their target price on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research note on Tuesday, December 24th. UBS Group reissued a “neutral” rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd.

Portland General Electric Stock Performance

Portland General Electric stock opened at $41.38 on Thursday. The firm has a fifty day simple moving average of $43.36 and a two-hundred day simple moving average of $46.01. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85. The company has a market capitalization of $4.36 billion, a PE ratio of 12.35, a P/E/G ratio of 1.04 and a beta of 0.61. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28.

Hedge Funds Weigh In On Portland General Electric

Hedge funds have recently added to or reduced their stakes in the company. Zimmer Partners LP increased its holdings in shares of Portland General Electric by 107.0% in the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after purchasing an additional 952,214 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Portland General Electric during the fourth quarter valued at $32,553,000. Vaughan Nelson Investment Management L.P. increased its holdings in Portland General Electric by 72.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock worth $60,346,000 after buying an additional 530,020 shares in the last quarter. OLD Republic International Corp purchased a new position in Portland General Electric in the 4th quarter worth about $22,464,000. Finally, Point72 Asset Management L.P. bought a new position in Portland General Electric during the 2nd quarter valued at about $7,459,000.

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.