Portland General Electric (NYSE:POR) Given New $43.00 Price Target at Barclays

Portland General Electric (NYSE:POR - Get Free Report) had its target price decreased by analysts at Barclays from $45.00 to $43.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the utilities provider's stock. Barclays's target price suggests a potential upside of 4.97% from the company's previous close.

Several other equities research analysts have also issued reports on POR. Evercore ISI dropped their price target on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Wall Street Zen raised Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. dropped their price target on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and increased their target price for the stock from $47.00 to $50.00 in a research report on Monday, May 5th. Finally, BMO Capital Markets started coverage on Portland General Electric in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Portland General Electric has an average rating of "Hold" and a consensus price target of $45.40.

Portland General Electric Price Performance

Shares of Portland General Electric stock traded up $0.25 on Tuesday, hitting $40.96. The company's stock had a trading volume of 443,183 shares, compared to its average volume of 1,070,426. The firm has a fifty day moving average price of $41.21 and a 200-day moving average price of $42.20. Portland General Electric has a 52-week low of $39.55 and a 52-week high of $49.85. The company has a market capitalization of $4.49 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 3.72 and a beta of 0.56. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate 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 8.24% and a net margin of 8.84%. The business's revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company posted $1.21 EPS. On average, equities research analysts expect that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portland General Electric

A number of institutional investors and hedge funds have recently bought and sold shares of POR. Vanguard Group Inc. increased its holdings in shares of Portland General Electric by 4.7% in the first quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider's stock worth $556,266,000 after acquiring an additional 559,201 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Portland General Electric by 22.8% in 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 acquiring an additional 904,692 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. increased its holdings in shares of Portland General Electric by 164.5% in the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,400,635 shares of the utilities provider's stock worth $196,268,000 after acquiring an additional 2,736,811 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Portland General Electric by 2.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider's stock worth $145,403,000 after acquiring an additional 93,903 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Portland General Electric by 14.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,878,528 shares of the utilities provider's stock worth $128,382,000 after acquiring an additional 366,640 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. 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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