BMO Capital Markets Initiates Coverage on Portland General Electric (NYSE:POR)

Equities researchers at BMO Capital Markets began coverage on shares of Portland General Electric (NYSE:POR - Get Free Report) in a report issued on Tuesday, Marketbeat reports. The brokerage set a "market perform" rating and a $46.00 price target on the utilities provider's stock. BMO Capital Markets' target price suggests a potential upside of 7.79% from the stock's previous close.

Several other brokerages have also recently weighed in on POR. Wells Fargo & Company decreased their target price on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. StockNews.com upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. Jefferies Financial Group lowered their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Barclays cut their target price on shares of Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Finally, LADENBURG THALM/SH SH cut shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price for the company. in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $45.50.

Portland General Electric Price Performance

Shares of NYSE POR traded up $0.48 during mid-day trading on Tuesday, reaching $42.68. 645,618 shares of the company traded hands, compared to its average volume of 1,024,367. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The firm has a market cap of $4.67 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. The stock has a fifty day simple moving average of $42.92 and a 200-day simple moving average of $43.71.

Portland General Electric (NYSE:POR - Get Free Report) last released its 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). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $928.00 million during the quarter, compared to analyst estimates of $977.02 million. During the same quarter last year, the company earned $1.21 earnings per share. The business's revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts anticipate that Portland General Electric will post 3.21 EPS for the current fiscal year.

Insider Activity at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of Portland General Electric stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the transaction, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. The trade was a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. This trade represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,795 shares of company stock worth $159,946. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of Portland General Electric

Hedge funds have recently made changes to their positions in the stock. Wayfinding Financial LLC purchased a new stake in Portland General Electric in the 1st quarter worth approximately $27,000. True Wealth Design LLC acquired a new stake in Portland General Electric during the fourth quarter valued at $27,000. Private Trust Co. NA boosted its position in Portland General Electric by 62.6% during the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 244 shares during the last quarter. Global X Japan Co. Ltd. grew its stake in Portland General Electric by 113.1% in the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 345 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Portland General Electric in the 4th quarter worth about $29,000.

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.