Portland General Electric (NYSE:POR) Upgraded to Hold at Zacks Research

Key Points

• Portland General Electric has been upgraded by Zacks Research from a "strong sell" rating to a "hold" rating.
• Multiple research firms have varying ratings and price targets, with an average rating of "hold" and a consensus price target of $45.40.
• The company reported a quarterly earnings per share (EPS) of $0.66, exceeding the consensus estimate of $0.65, along with a revenue of $807 million.

Portland General Electric (NYSE:POR - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Monday, August 18th,Zacks.com reports.

POR has been the subject of a number of other research reports. KeyCorp downgraded shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price objective for the company. in a research report on Wednesday, May 14th. Wall Street Zen raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. lowered their price objective on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Evercore ISI decreased their target price on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Finally, Barclays cut their price target on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $45.40.

Portland General Electric Stock Down 1.0%

NYSE:POR traded down $0.42 during mid-day trading on Monday, reaching $42.66. The stock had a trading volume of 370,036 shares, compared to its average volume of 1,173,882. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 3.94 and a beta of 0.55. Portland General Electric has a 1-year low of $39.54 and a 1-year high of $49.85. The stock's 50 day simple moving average is $41.22 and its two-hundred day simple moving average is $42.25. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84.

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

Insider Buying and Selling

In other Portland General Electric news, Director Michael A. Lewis sold 1,937 shares of Portland General Electric stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $40.10, for a total value of $77,673.70. Following the transaction, the director owned 13,509 shares in the company, valued at approximately $541,710.90. The trade was a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of Portland General Electric stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $41.35, for a total transaction of $107,634.05. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in POR. Raymond James Financial Inc. acquired a new position in Portland General Electric in the fourth quarter worth approximately $7,181,000. Rockefeller Capital Management L.P. boosted its stake in Portland General Electric by 13.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 12,741 shares of the utilities provider's stock worth $556,000 after purchasing an additional 1,471 shares during the period. Mariner LLC boosted its stake in Portland General Electric by 20.3% in the 4th quarter. Mariner LLC now owns 19,386 shares of the utilities provider's stock worth $846,000 after purchasing an additional 3,269 shares during the period. Freedom Investment Management Inc. boosted its stake in Portland General Electric by 38.4% in the 4th quarter. Freedom Investment Management Inc. now owns 6,061 shares of the utilities provider's stock worth $264,000 after purchasing an additional 1,683 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Portland General Electric by 3.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,643,769 shares of the utilities provider's stock worth $71,701,000 after purchasing an additional 59,861 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.