Bank of America Cuts Portland General Electric (NYSE:POR) Price Target to $43.00

Portland General Electric (NYSE:POR) had its target price lowered by Bank of America from $46.00 to $43.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underperform” rating on the utilities provider’s stock. Bank of America‘s target price would indicate a potential downside of 1.49% from the stock’s previous close.

POR has been the subject of several other research reports. Barclays decreased their price objective on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. increased their price objective on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. KeyCorp dropped their price target on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Finally, Evercore ISI began coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $48.63.

Portland General Electric Stock Down 0.1 %

POR traded down $0.05 during trading on Tuesday, hitting $43.65. The company had a trading volume of 351,813 shares, compared to its average volume of 963,021. The company has a market capitalization of $4.60 billion, a PE ratio of 13.03, a PEG ratio of 1.13 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. Portland General Electric has a one year low of $39.13 and a one year high of $49.85. The firm’s 50-day moving average price is $46.81 and its 200 day moving average price is $46.32.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $882.66 million. During the same quarter in the previous year, the business posted $0.46 EPS. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts expect that Portland General Electric will post 3.11 earnings per share for the current year.

Institutional Trading of Portland General Electric

Several hedge funds and other institutional investors have recently bought and sold shares of POR. Zimmer Partners LP increased its holdings in shares of Portland General Electric by 107.0% during the third 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 during the period. Vaughan Nelson Investment Management L.P. increased its stake in Portland General Electric by 72.6% during 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 acquiring an additional 530,020 shares during the period. Marshall Wace LLP raised its holdings in Portland General Electric by 657.0% in the 2nd quarter. Marshall Wace LLP now owns 314,688 shares of the utilities provider’s stock valued at $13,607,000 after acquiring an additional 273,118 shares in the last quarter. Systematic Financial Management LP lifted its position in shares of Portland General Electric by 83.4% during the 2nd quarter. Systematic Financial Management LP now owns 424,701 shares of the utilities provider’s stock valued at $18,364,000 after acquiring an additional 193,164 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Portland General Electric during the 2nd quarter worth $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.