Portland General Electric (NYSE:POR) Given New $42.00 Price Target at Jefferies Financial Group

Portland General Electric (NYSE:POR) had its price target dropped by analysts at Jefferies Financial Group from $47.00 to $42.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the utilities provider’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 0.60% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. UBS Group reaffirmed a “neutral” rating and issued a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. KeyCorp decreased their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Bank of America decreased their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. Barclays reduced their price target on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $47.38.

Portland General Electric Stock Down 1.4 %

Shares of NYSE:POR traded down $0.58 during midday trading on Tuesday, reaching $41.75. The company had a trading volume of 673,235 shares, compared to its average volume of 1,204,178. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The stock’s fifty day moving average price is $44.33 and its 200-day moving average price is $46.26. The stock has a market capitalization of $4.40 billion, a P/E ratio of 12.46, a PEG ratio of 1.05 and a beta of 0.60. Portland General Electric has a one year low of $39.13 and a one year high of $49.85.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. Equities research analysts expect that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Portland General Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Portland General Electric by 1.6% during the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after purchasing an additional 66,438 shares in the last quarter. Geode Capital Management LLC raised its position in Portland General Electric by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after acquiring an additional 25,332 shares in the last quarter. Zimmer Partners LP raised its position in Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after acquiring an additional 952,214 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Portland General Electric by 4.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,781 shares of the utilities provider’s stock worth $57,220,000 after acquiring an additional 51,936 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Portland General Electric by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock worth $61,219,000 after acquiring an additional 13,720 shares in the last quarter.

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.