Portland General Electric (NYSE:POR) Given New $42.00 Price Target at Jefferies Financial Group

Portland General Electric (NYSE:POR) had its target price cut by stock analysts at Jefferies Financial Group from $47.00 to $42.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the utilities provider’s stock. Jefferies Financial Group’s price target points to a potential upside of 0.60% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Bank of America lowered their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research note on Tuesday, December 24th. UBS Group reissued a “neutral” rating and issued a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. KeyCorp decreased their price target on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Barclays decreased their price target on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. raised their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $47.38.

Portland General Electric Stock Performance

Portland General Electric stock traded down $0.58 during trading hours on Tuesday, reaching $41.75. 673,235 shares of the stock were exchanged, compared to its average volume of 1,204,178. The firm’s 50 day moving average is $44.33 and its 200 day moving average is $46.26. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The stock has a market cap of $4.40 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.05 and a beta of 0.60. Portland General Electric has a 52-week low of $39.13 and a 52-week high of $49.85.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS. Analysts predict that Portland General Electric will post 3.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Portland General Electric

Hedge funds have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of Portland General Electric in the third quarter worth approximately $596,000. Nordea Investment Management AB raised its holdings in Portland General Electric by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock valued at $43,058,000 after buying an additional 19,057 shares during the period. Franklin Resources Inc. raised its holdings in Portland General Electric by 114.1% in the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after buying an additional 81,701 shares during the period. HighTower Advisors LLC raised its holdings in Portland General Electric by 14.2% in the third quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock valued at $4,114,000 after buying an additional 10,643 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Portland General Electric by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock valued at $117,114,000 after buying an additional 25,332 shares during the period.

Portland General Electric Company Profile

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.