Portland General Electric (NYSE:POR) Price Target Cut to $48.00 by Analysts at Evercore ISI

Portland General Electric (NYSE:POR - Get Free Report) had its price objective decreased by Evercore ISI from $51.00 to $48.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the utilities provider's stock. Evercore ISI's price objective indicates a potential upside of 16.32% from the company's previous close.

A number of other brokerages have also recently commented on POR. Barclays raised their target price on Portland General Electric from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Jefferies Financial Group dropped their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. UBS Group reiterated a "neutral" rating and set a $47.00 target price (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. LADENBURG THALM/SH SH downgraded shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target for the company. in a research note on Tuesday, February 18th. Finally, StockNews.com upgraded Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $45.40.

Portland General Electric Trading Down 0.2 %

NYSE:POR traded down $0.09 on Monday, reaching $41.27. The company's stock had a trading volume of 222,333 shares, compared to its average volume of 1,181,309. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The stock has a 50 day moving average price of $43.59 and a 200 day moving average price of $44.32.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $928.00 million for the quarter, compared to analysts' expectations of $977.02 million. During the same period last year, the business earned $1.21 EPS. On average, equities analysts anticipate that Portland General Electric will post 3.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Benjamin Felton sold 1,845 shares of Portland General Electric stock in a transaction dated 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 in the company, valued at approximately $1,404,430.92. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares of the company's stock, 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. Insiders sold a total of 3,795 shares of company stock worth $159,946 over the last 90 days. 0.40% of the stock is owned by insiders.

Institutional Trading of Portland General Electric

Several institutional investors and hedge funds have recently bought and sold shares of the business. True Wealth Design LLC acquired a new stake in shares of Portland General Electric during the fourth quarter worth about $27,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Portland General Electric in the fourth quarter valued at approximately $29,000. Global X Japan Co. Ltd. boosted its position in shares of Portland General Electric by 113.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock worth $29,000 after purchasing an additional 345 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock worth $33,000 after buying an additional 450 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Portland General Electric by 1,538.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after acquiring an additional 769 shares during the period.

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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