Portland General Electric (NYSE:POR) Coverage Initiated at BMO Capital Markets

Equities research analysts at BMO Capital Markets started coverage on shares of Portland General Electric (NYSE:POR - Get Free Report) in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage set a "market perform" rating and a $46.00 price target on the utilities provider's stock. BMO Capital Markets' price objective indicates a potential upside of 8.98% from the company's previous close.

Several other brokerages have also recently issued reports on POR. Jefferies Financial Group lowered their price target on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. LADENBURG THALM/SH SH cut Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $44.00 price target (down from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. StockNews.com upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. Finally, Wells Fargo & Company lowered their price target on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $45.45.

Portland General Electric Stock Performance

NYSE:POR traded up $1.27 during trading hours on Tuesday, reaching $42.21. 964,132 shares of the stock were exchanged, compared to its average volume of 1,025,483. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The firm has a 50 day simple moving average of $42.95 and a 200-day simple moving average of $43.77. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85. The stock has a market capitalization of $4.62 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.11 and a beta of 0.57.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The company had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. As a group, sell-side analysts forecast that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Insider Transactions at Portland General Electric

In related news, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the sale, the executive vice president now owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. This trade represents a 5.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. The trade was a 4.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,795 shares of company stock worth $159,946 in the last three months. Insiders own 0.40% of the company's stock.

Institutional Trading of Portland General Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Portland General Electric during the fourth quarter worth about $62,004,000. Fuller & Thaler Asset Management Inc. grew its holdings in Portland General Electric by 22.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider's stock worth $216,950,000 after purchasing an additional 904,692 shares during the period. Assenagon Asset Management S.A. bought a new position in Portland General Electric during the fourth quarter worth about $32,553,000. Vanguard Group Inc. grew its holdings in Portland General Electric by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock worth $519,651,000 after purchasing an additional 572,531 shares during the period. Finally, OLD Republic International Corp bought a new position in Portland General Electric during the fourth quarter worth about $22,464,000.

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.