Portland General Electric (NYSE:POR) Lowered to “Sell” at StockNews.com

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

Several other research firms have also recently commented on POR. Mizuho increased their price objective on Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Barclays increased their price objective on shares of Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Finally, KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.86.

Portland General Electric Stock Down 1.3 %

NYSE:POR traded down $0.63 on Monday, reaching $46.79. 1,280,234 shares of the stock traded hands, compared to its average volume of 980,338. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 17.93 and a beta of 0.58. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $48.58. The company’s fifty day simple moving average is $43.96 and its 200 day simple moving average is $42.45.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The company had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities analysts predict that Portland General Electric will post 3.08 EPS for the current fiscal year.

Insider Buying and Selling at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total value of $88,600.00. Following the completion of the sale, the senior vice president now directly owns 16,763 shares of the company’s stock, valued at approximately $742,600.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Portland General Electric news, VP Brett Michael Sims sold 963 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total transaction of $43,363.89. Following the sale, the vice president now directly owns 13,996 shares of the company’s stock, valued at $630,239.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total value of $88,600.00. Following the sale, the senior vice president now owns 16,763 shares of the company’s stock, valued at approximately $742,600.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,849 shares of company stock valued at $222,492. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in POR. Johnson Financial Group Inc. purchased a new position in shares of Portland General Electric in the fourth quarter worth $25,000. Massmutual Trust Co. FSB ADV grew its position in shares of Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 514 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Portland General Electric in the first quarter worth about $26,000. Fifth Third Bancorp increased its holdings in shares of Portland General Electric by 181.8% in the fourth quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 409 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of Portland General Electric in the first quarter worth about $34,000.

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.