Portland General Electric (NYSE:POR) Upgraded 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 equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. Barclays cut their price target on shares of 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. KeyCorp lowered shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target on the stock. in a report on Wednesday, May 14th. Wells Fargo & Company cut their price target on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. BMO Capital Markets assumed coverage on shares of Portland General Electric in a report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Portland General Electric currently has a consensus rating of "Hold" and an average target price of $45.40.

Portland General Electric Price Performance

Shares of NYSE POR traded up $0.8510 during midday trading on Monday, reaching $43.0510. The company's stock had a trading volume of 1,294,843 shares, compared to its average volume of 1,200,511. Portland General Electric has a one year low of $39.54 and a one year high of $49.85. The company has a 50 day moving average price of $41.22 and a 200 day moving average price of $42.24. 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 company has a market cap of $4.72 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 3.86 and a beta of 0.55.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $797.97 million. During the same quarter in the previous year, the business earned $0.69 earnings per share. The firm's revenue 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. On average, equities research analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Insider Buying and Selling at Portland General Electric

In other news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $40.10, for a total transaction of $77,673.70. Following the transaction, the director owned 13,509 shares in the company, valued at $541,710.90. This represents a 12.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the stock in a transaction 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 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. Corporate insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Wayfinding Financial LLC bought a new stake in shares of Portland General Electric during the 1st quarter worth $27,000. True Wealth Design LLC bought a new stake in shares of Portland General Electric during the 4th quarter worth $27,000. Private Trust Co. NA boosted its holdings in shares of 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 buying an additional 244 shares during the period. Global X Japan Co. Ltd. boosted its holdings 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 buying an additional 345 shares during the period. Finally, IFP Advisors Inc boosted its holdings in shares of 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.

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.