Portland General Electric (NYSE:POR) was upgraded by investment analysts at Guggenheim from a "neutral" rating to a "buy" rating in a research note issued on Tuesday, Briefing.com reports.
Several other research firms have also recently weighed in on POR. TheStreet cut shares of Portland General Electric from a "b-" rating to a "c+" rating in a research report on Monday, July 27th. Mizuho upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and set a $38.00 price objective for the company in a research report on Monday. They noted that the move was a valuation call. Wolfe Research upgraded shares of Portland General Electric from an "underperform" rating to a "peer perform" rating and set a $43.00 price objective for the company in a research report on Friday, July 17th. BofA Securities upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and set a $39.00 price objective for the company in a research report on Wednesday, September 16th. Finally, Sidoti dropped their price objective on shares of Portland General Electric from $43.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company's stock. The company presently has an average rating of "Hold" and a consensus price target of $42.70.
NYSE:POR opened at $34.24 on Tuesday. Portland General Electric has a 1 year low of $31.96 and a 1 year high of $63.08. The firm has a 50 day moving average of $39.26 and a 200-day moving average of $44.18. The company has a current ratio of 0.96, a quick ratio of 0.82 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $3.06 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 4.70 and a beta of 0.21.
Portland General Electric (NYSE:POR) last posted its earnings results on Friday, July 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.10. Portland General Electric had a net margin of 11.07% and a return on equity of 9.04%. The company had revenue of $469.00 million during the quarter, compared to analysts' expectations of $455.83 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. Portland General Electric's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, analysts forecast that Portland General Electric will post 1.45 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the business. Two Sigma Advisers LP lifted its position in Portland General Electric by 20.0% during the 2nd quarter. Two Sigma Advisers LP now owns 271,100 shares of the utilities provider's stock worth $11,335,000 after buying an additional 45,200 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Portland General Electric during the 2nd quarter worth about $351,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in Portland General Electric by 30.3% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,271,273 shares of the utilities provider's stock worth $136,772,000 after buying an additional 760,665 shares in the last quarter. Principal Financial Group Inc. lifted its position in Portland General Electric by 17.7% during the 2nd quarter. Principal Financial Group Inc. now owns 1,016,247 shares of the utilities provider's stock worth $42,489,000 after buying an additional 153,183 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Portland General Electric by 18.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,227 shares of the utilities provider's stock worth $302,000 after buying an additional 1,135 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. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.
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