Evercore ISI Forecasts Strong Price Appreciation for Portland General Electric (NYSE:POR) Stock

Portland General Electric (NYSE:POR) had its price target upped by Evercore ISI from $50.00 to $51.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Evercore ISI’s price objective suggests a potential upside of 21.27% from the stock’s previous close.

Several other brokerages have also issued reports on POR. Barclays cut their target price on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. raised 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. UBS Group reaffirmed a “neutral” rating and issued a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. LADENBURG THALM/SH SH downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Tuesday. Finally, Bank of America lowered their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and a consensus target price of $46.44.

Portland General Electric Price Performance

NYSE POR traded up $0.42 during trading on Tuesday, reaching $42.06. The company’s stock had a trading volume of 138,574 shares, compared to its average volume of 1,135,091. The stock has a market capitalization of $4.44 billion, a PE ratio of 12.54, a P/E/G ratio of 1.05 and a beta of 0.61. 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 firm has a fifty day moving average of $42.50 and a 200 day moving average of $45.68. Portland General Electric has a one year low of $39.49 and a one year high of $49.85.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $716.17 million. During the same period in the prior year, the business earned $0.67 earnings per share. Analysts expect that Portland General Electric will post 3.11 EPS for the current fiscal year.

Institutional Trading of Portland General Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in POR. V Square Quantitative Management LLC purchased a new position in Portland General Electric during the 3rd quarter valued at $25,000. True Wealth Design LLC bought a new stake in shares of Portland General Electric during the 4th quarter valued at about $27,000. Allworth Financial LP boosted its stake in shares of Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 265 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Portland General Electric during the fourth quarter valued at about $29,000. Finally, Versant Capital Management Inc raised its stake in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after buying an additional 450 shares in the last quarter.

About Portland General Electric

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.