Portland General Electric (NYSE:POR) Upgraded at BTIG Research

Key Points

• Portland General Electric (NYSE: POR) was upgraded by BTIG Research to a "strong-buy" rating, following a note issued to investors on Wednesday.
• Barclays and Jefferies Financial Group also raised their target prices for the stock, with Barclays moving it from $43.00 to $47.00 and Jefferies from $43.00 to $46.00.
• The company reported earnings of $0.66 per share for the quarter, surpassing analysts' expectations, and marked a 6.5% increase in revenue year-over-year.

Portland General Electric (NYSE:POR - Get Free Report) was upgraded by BTIG Research to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages also recently weighed in on POR. Barclays raised their target price on Portland General Electric from $43.00 to $47.00 and gave the company an "equal weight" rating in a report on Tuesday. Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Jefferies Financial Group lifted their target price on Portland General Electric from $43.00 to $46.00 and gave the company a "hold" rating in a research report on Wednesday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Portland General Electric in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Portland General Electric currently has a consensus rating of "Hold" and a consensus price target of $46.73.

Portland General Electric Trading Up 0.9%

Shares of POR stock opened at $45.35 on Wednesday. The stock has a market cap of $4.97 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 4.11 and a beta of 0.62. Portland General Electric has a 1 year low of $39.54 and a 1 year high of $49.85. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28. The stock has a 50 day simple moving average of $43.06 and a 200 day simple moving average of $42.11.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. The company had revenue of $807.00 million during the quarter, compared to the consensus estimate of $797.97 million. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The firm's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 EPS. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. On average, research analysts predict that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Insider Transactions at Portland General Electric

In other Portland General Electric news, CEO Maria M. Pope sold 18,896 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total value of $803,080.00. Following the completion of the transaction, the chief executive officer directly owned 194,135 shares in the company, valued at approximately $8,250,737.50. This trade represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $41.35, for a total value of $107,634.05. Following the sale, the chief financial officer owned 27,089 shares in the company, valued at approximately $1,120,130.15. This trade represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Portland General Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wayfinding Financial LLC acquired a new position in shares of Portland General Electric during the first quarter worth $27,000. Private Trust Co. NA raised its position in Portland General Electric by 62.6% during the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after purchasing an additional 244 shares during the last quarter. IFP Advisors Inc lifted its holdings in Portland General Electric by 1,291.7% during the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider's stock worth $27,000 after buying an additional 620 shares during the period. S.A. Mason LLC acquired a new position in Portland General Electric during the 2nd quarter worth about $29,000. Finally, Bell Investment Advisors Inc grew its position in shares of Portland General Electric by 80.6% in the 2nd quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider's stock valued at $34,000 after buying an additional 370 shares during 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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