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

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

Other equities analysts have also issued reports about the company. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Mizuho raised their price objective on shares of Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Finally, Barclays increased their price target on Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $44.86.

Portland General Electric Price Performance

NYSE POR traded up $0.08 on Wednesday, hitting $47.61. 558,573 shares of the company’s stock were exchanged, compared to its average volume of 955,072. The stock has a 50-day moving average of $45.56 and a 200-day moving average of $43.45. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 18.24 and a beta of 0.58. Portland General Electric has a 52 week low of $38.01 and a 52 week high of $48.62. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

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 the consensus estimate of $0.62 by $0.07. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The business had revenue of $758.00 million during the quarter, compared to the consensus estimate of $716.43 million. During the same period in the prior year, the company earned $0.44 EPS. Portland General Electric’s revenue for the quarter was up 17.0% on a year-over-year basis. Analysts expect that Portland General Electric will post 3.09 earnings per share for the current year.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the sale, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now owns 22,606 shares of the company’s stock, valued at $1,045,527.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the transaction, the chief operating officer now owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Portland General Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new position in shares of Portland General Electric in the fourth quarter valued at $25,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Portland General Electric by 767.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 514 shares during the period. LRI Investments LLC bought a new position in shares of Portland General Electric during the first quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new position in Portland General Electric in the 2nd quarter valued at $33,000. Finally, Mather Group LLC. purchased a new stake in Portland General Electric in the 1st quarter valued at 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.