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

Key Points

• Barclays has increased its price target for Portland General Electric (NYSE:POR) from $43 to $47, indicating a potential upside of 4.54% from the last closing price.
• Portland General Electric's average rating is currently assessed as "Hold" by analysts, with three having a "Buy" rating and nine rated as "Hold."
• The company reported earnings of $0.66 per share for the last quarter, surpassing analyst expectations and reflecting a 6.5% revenue increase year-over-year.

Portland General Electric (NYSE:POR - Get Free Report) had its price target hoisted by Barclays from $43.00 to $47.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the utilities provider's stock. Barclays's price objective would suggest a potential upside of 4.54% from the company's previous close.

A number of other equities research analysts have also commented on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Portland General Electric in a report on Wednesday, October 8th. Zacks Research raised shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, BTIG Research began coverage on shares of Portland General Electric in a report on Tuesday. They set a "buy" rating on the stock. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $45.80.

Portland General Electric Price Performance

Shares of POR traded down $0.07 during trading hours on Tuesday, hitting $44.96. The stock had a trading volume of 728,238 shares, compared to its average volume of 1,155,911. The company's fifty day moving average is $42.96 and its two-hundred day moving average is $42.07. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84. Portland General Electric has a 52 week low of $39.54 and a 52 week high of $49.85. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 4.08 and a beta of 0.62.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The business had revenue of $807.00 million for the quarter, compared to analyst estimates of $797.97 million. During the same quarter in the prior year, the firm earned $0.69 EPS. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. On average, analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $41.35, for a total value of $107,634.05. Following the transaction, the chief financial officer owned 27,089 shares of the company's stock, valued at approximately $1,120,130.15. This trade represents a 8.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Maria M. Pope sold 18,896 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $42.50, for a total transaction of $803,080.00. Following the completion of the transaction, the chief executive officer directly owned 194,135 shares in the company, valued at $8,250,737.50. This trade represents a 8.87% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Institutional Trading of Portland General Electric

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Portland General Electric by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider's stock valued at $556,266,000 after acquiring an additional 559,201 shares during the period. ATLAS Infrastructure Partners UK Ltd. raised its position in shares of Portland General Electric by 24.1% in the 2nd quarter. ATLAS Infrastructure Partners UK Ltd. now owns 5,459,258 shares of the utilities provider's stock valued at $221,810,000 after acquiring an additional 1,058,623 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in Portland General Electric by 22.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider's stock worth $216,950,000 after buying an additional 904,692 shares during the period. State Street Corp raised its holdings in Portland General Electric by 2.4% during the 2nd quarter. State Street Corp now owns 4,551,369 shares of the utilities provider's stock worth $187,200,000 after buying an additional 107,717 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Portland General Electric by 14.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,878,528 shares of the utilities provider's stock worth $128,382,000 after buying an additional 366,640 shares during the period.

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.

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