UBS Group Issues Pessimistic Forecast for Portland General Electric (NYSE:POR) Stock Price

Key Points

• UBS Group cut Portland General Electric’s price target from $53 to $50 while maintaining a “neutral” rating. The new target implies approximately 13% upside from the prior close.
• Analyst sentiment remains cautious, with two Buy ratings and nine Holds, producing an overall “Hold” consensus and an average price target of $50.65.
• POR shares fell $2.60 to $44.25, near their one-year low, after the company slightly missed quarterly earnings and revenue expectations. Portland General Electric reported $0.64 in EPS versus a $0.65 consensus estimate.

Portland General Electric (NYSE:POR - Get Free Report) had its price target reduced by investment analysts at UBS Group from $53.00 to $50.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the utilities provider's stock. UBS Group's target price suggests a potential upside of 13.00% from the company's previous close.

A number of other analysts have also recently commented on the stock. Zacks Research upgraded shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Weiss Ratings downgraded shares of Portland General Electric from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, August 27th. LADENBURG THALM/SH SH upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and set a $48.50 price target for the company in a research report on Thursday, August 13th. JPMorgan Chase & Co. decreased their price objective on Portland General Electric from $56.00 to $53.00 and set a "neutral" rating on the stock in a report on Wednesday, September 9th. Finally, BMO Capital Markets set a $52.00 price target on Portland General Electric in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Portland General Electric currently has an average rating of "Hold" and an average price target of $50.65.

Portland General Electric Price Performance

Shares of Portland General Electric stock traded down $2.60 on Monday, reaching $44.25. The stock had a trading volume of 2,767,499 shares, compared to its average volume of 1,242,340. The company has a market cap of $5.20 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The business's 50 day moving average is $49.41 and its two-hundred day moving average is $50.60. Portland General Electric has a 1 year low of $42.58 and a 1 year high of $54.62.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%.The company had revenue of $814.00 million for the quarter, compared to the consensus estimate of $839.75 million. During the same quarter in the previous year, the business earned $0.66 earnings per share. Portland General Electric's revenue was up .9% compared to the same quarter last year. As a group, research analysts anticipate that Portland General Electric will post 3.38 EPS for the current year.

Insider Buying and Selling at Portland General Electric

In other news, Director Michael Lewis sold 1,537 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $51.83, for a total value of $79,662.71. Following the completion of the transaction, the director owned 15,045 shares in the company, valued at approximately $779,782.35. This represents a 9.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company's stock.

Institutional Trading of Portland General Electric

A number of large investors have recently made changes to their positions in the company. Bank & Trust Co grew its stake in Portland General Electric by 2.0% in the second quarter. Bank & Trust Co now owns 10,115 shares of the utilities provider's stock valued at $524,000 after purchasing an additional 198 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Portland General Electric by 2.0% during the 1st quarter. First Citizens Bank & Trust Co. now owns 10,997 shares of the utilities provider's stock valued at $580,000 after acquiring an additional 218 shares in the last quarter. Fox Hill Wealth Management lifted its holdings in shares of Portland General Electric by 0.6% during the fourth quarter. Fox Hill Wealth Management now owns 39,373 shares of the utilities provider's stock worth $1,890,000 after purchasing an additional 237 shares during the period. OneDigital Investment Advisors LLC raised its position in shares of Portland General Electric by 3.3% during the second quarter. OneDigital Investment Advisors LLC now owns 7,588 shares of the utilities provider's stock worth $393,000 after acquiring an additional 241 shares during the last quarter. Finally, State of Wyoming grew its holdings in Portland General Electric by 32.9% during the 2nd quarter. State of Wyoming now owns 1,193 shares of the utilities provider's stock worth $62,000 after acquiring an additional 295 shares during the period.

About Portland General Electric

Portland General Electric Company NYSE: POR is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity in Oregon. The company serves residential, commercial, industrial and other customers, offering electric delivery and related energy services across its service territory.

Founded in 1889, Portland General Electric is headquartered in Portland, Oregon, and serves communities in the Portland metropolitan area and the Willamette Valley, among other parts of the state.

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