Portland General Electric (NYSE:POR) Price Target Raised to $47.00 at Barclays

Portland General Electric (NYSE:PORFree Report) had its price target boosted by Barclays from $43.00 to $47.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Other equities analysts also recently issued reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Portland General Electric in a research report on Wednesday, October 8th. Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Finally, BTIG Research assumed coverage on Portland General Electric in a research report on Tuesday. They issued a “buy” rating and a $52.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.36.

Check Out Our Latest Analysis on POR

Portland General Electric Price Performance

NYSE POR opened at $44.96 on Tuesday. The company has a market capitalization of $4.93 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 4.12 and a beta of 0.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97. The business’s fifty day moving average is $43.01 and its 200 day moving average is $42.09. Portland General Electric has a fifty-two week low of $39.54 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:PORGet Free Report) last released its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $807.00 million for the quarter, compared to the consensus estimate of $797.97 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.Portland General Electric’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Sell-side analysts predict that Portland General Electric will post 3.21 earnings per share for the current year.

Insider Activity

In other news, CEO Maria M. Pope sold 18,896 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total value of $803,080.00. Following the transaction, the chief executive officer directly owned 194,135 shares in the company, valued at $8,250,737.50. The trade was a 8.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $41.35, for a total value of $107,634.05. Following the completion of the transaction, the chief financial officer owned 27,089 shares in the company, valued at $1,120,130.15. The trade was a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Portland General Electric

Several large investors have recently made changes to their positions in POR. ATLAS Infrastructure Partners UK Ltd. increased its holdings in shares of Portland General Electric by 164.5% in the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,400,635 shares of the utilities provider’s stock worth $196,268,000 after purchasing an additional 2,736,811 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Portland General Electric by 644.2% in the first quarter. AQR Capital Management LLC now owns 2,014,491 shares of the utilities provider’s stock worth $89,846,000 after purchasing an additional 1,743,791 shares during the last quarter. Norges Bank bought a new stake in shares of Portland General Electric in the second quarter worth about $41,554,000. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Portland General Electric by 22.8% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider’s stock worth $216,950,000 after purchasing an additional 904,692 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Portland General Electric by 4.7% in the first quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider’s stock worth $556,266,000 after purchasing an additional 559,201 shares during the last quarter.

About Portland General Electric

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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.

Further Reading

Analyst Recommendations for Portland General Electric (NYSE:POR)

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