Portland General Electric (NYSE:POR) Price Target Raised to $51.00

Portland General Electric (NYSE:POR) had its price objective raised by analysts at Evercore ISI from $50.00 to $51.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. Evercore ISI’s target price would suggest a potential upside of 21.27% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Bank of America cut their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. KeyCorp reduced their price target on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Jefferies Financial Group dropped their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Finally, LADENBURG THALM/SH SH lowered 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Portland General Electric has a consensus rating of “Hold” and a consensus target price of $46.44.

Portland General Electric Stock Up 1.0 %

Shares of POR traded up $0.42 during trading hours on Tuesday, reaching $42.06. 138,574 shares of the stock traded hands, compared to its average volume of 1,135,091. Portland General Electric has a 52 week low of $39.49 and a 52 week high of $49.85. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.05 and a beta of 0.61. The stock has a fifty day simple moving average of $42.50 and a 200 day simple moving average of $45.68. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $716.17 million. During the same quarter last year, the firm earned $0.67 EPS. On average, equities analysts forecast that Portland General Electric will post 3.11 EPS for the current year.

Institutional Investors Weigh In On Portland General Electric

Several institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Portland General Electric during the 4th quarter valued at $62,004,000. Zimmer Partners LP grew its holdings in Portland General Electric by 107.0% during the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after buying an additional 952,214 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Portland General Electric during the fourth quarter valued at about $32,553,000. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Portland General Electric by 19.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider’s stock worth $172,720,000 after buying an additional 635,987 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Portland General Electric by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock valued at $519,651,000 after acquiring an additional 572,531 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.