Evercore ISI Issues Pessimistic Forecast for Portland General Electric (NYSE:POR) Stock Price

Portland General Electric (NYSE:POR) had its price objective dropped by equities researchers at Evercore ISI from $51.00 to $48.00 in a note issued to investors on Monday,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 16.32% from the company’s previous close.

Several other equities research analysts also recently weighed in on POR. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $44.00 target price (down previously from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. Jefferies Financial Group decreased their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. Barclays upped their target price on shares of Portland General Electric from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 22nd. Finally, UBS Group reaffirmed a “neutral” rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.40.

Portland General Electric Trading Down 0.2 %

NYSE:POR traded down $0.09 during trading hours on Monday, reaching $41.27. 222,333 shares of the company were exchanged, compared to its average volume of 1,181,309. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.11 and a beta of 0.49. The stock has a 50 day simple moving average of $43.59 and a 200 day simple moving average of $44.32. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $928.00 million for the quarter, compared to analysts’ expectations of $977.02 million. During the same quarter in the previous year, the firm posted $1.21 EPS. As a group, analysts predict that Portland General Electric will post 3.21 EPS for the current year.

Insider Activity

In other news, EVP Benjamin Felton sold 1,845 shares of Portland General Electric stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the transaction, the executive vice president now owns 32,646 shares in the company, valued at approximately $1,404,430.92. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,795 shares of company stock worth $159,946. 0.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Portland General Electric

Hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its position in shares of Portland General Electric by 0.8% in the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider’s stock worth $1,305,000 after buying an additional 245 shares during the last quarter. Captrust Financial Advisors raised its stake in Portland General Electric by 3.2% during the fourth quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider’s stock worth $379,000 after acquiring an additional 269 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in Portland General Electric by 4.2% in the fourth quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider’s stock worth $318,000 after acquiring an additional 291 shares during the last quarter. Texas Yale Capital Corp. boosted its stake in Portland General Electric by 2.6% in the fourth quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider’s stock valued at $520,000 after acquiring an additional 300 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Portland General Electric by 1.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,878 shares of the utilities provider’s stock valued at $887,000 after purchasing an additional 335 shares during the last quarter.

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.