Portland General Electric (NYSE:POR) Now Covered by Jefferies Financial Group

Research analysts at Jefferies Financial Group initiated coverage on shares of Portland General Electric (NYSE:POR) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $48.00 price target on the utilities provider’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 0.63% from the company’s previous close.

Several other equities research analysts also recently issued reports on POR. StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Bank of America started coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective for the company. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Finally, Barclays downgraded Portland General Electric from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $48.00 to $49.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.88.

Portland General Electric Stock Down 0.4 %

NYSE:POR opened at $47.70 on Friday. The business’s fifty day moving average price is $47.37 and its 200 day moving average price is $44.35. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.38 and a beta of 0.59. 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 has a 1-year low of $38.01 and a 1-year high of $49.45.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm had revenue of $758.00 million during the quarter, compared to the consensus estimate of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. On average, sell-side analysts forecast that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Insider Activity at Portland General Electric

In related news, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total value of $90,528.00. Following the transaction, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the completion of the sale, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,486 shares of company stock valued at $262,153. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Portland General Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Portland General Electric by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock valued at $483,069,000 after buying an additional 212,981 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Portland General Electric by 29.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock worth $196,089,000 after purchasing an additional 1,017,503 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Portland General Electric by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock worth $65,234,000 after purchasing an additional 86,718 shares in the last quarter. HITE Hedge Asset Management LLC grew its holdings in shares of Portland General Electric by 7.1% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock worth $64,216,000 after purchasing an additional 97,922 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Portland General Electric by 24.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,265,745 shares of the utilities provider’s stock worth $54,857,000 after purchasing an additional 249,350 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.