UBS Group Reaffirms “Neutral” Rating for Portland General Electric (NYSE:POR)

Portland General Electric (NYSE:POR)‘s stock had its “neutral” rating restated by research analysts at UBS Group in a note issued to investors on Friday, MarketBeat.com reports. They currently have a $47.00 price target on the utilities provider’s stock, down from their prior price target of $52.00. UBS Group’s price objective indicates a potential upside of 8.92% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Jefferies Financial Group began coverage on shares of Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. Evercore ISI initiated coverage on Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, KeyCorp cut their price target on 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.88.

Portland General Electric Price Performance

NYSE:POR opened at $43.15 on Friday. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The company’s 50-day moving average price is $45.91 and its two-hundred day moving average price is $46.31. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The firm has a market cap of $4.55 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.13 and a beta of 0.59.

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

Institutional Trading of Portland General Electric

A number of hedge funds have recently modified their holdings of POR. V Square Quantitative Management LLC acquired a new stake in Portland General Electric during the 3rd quarter worth $25,000. Allworth Financial LP lifted its holdings in shares of Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 265 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Portland General Electric during the 2nd quarter valued at about $33,000. Versant Capital Management Inc lifted its holdings in shares of Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 450 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Portland General Electric in the 2nd quarter valued at approximately $40,000.

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.