StockNews.com Downgrades Portland General Electric (NYSE:POR) to Sell

Portland General Electric (NYSE:POR) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

Other equities analysts have also issued reports about the stock. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Barclays increased their target price on shares of Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Finally, Mizuho boosted their price target on shares of Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and an average price target of $44.86.

Portland General Electric Stock Down 1.3 %

Shares of Portland General Electric stock traded down $0.63 during trading on Monday, hitting $46.79. 1,280,234 shares of the stock were exchanged, compared to its average volume of 980,338. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. The firm’s 50-day moving average price is $43.96 and its 200 day moving average price is $42.45. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 17.93 and a beta of 0.58. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $48.58.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. Portland General Electric’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. As a group, analysts forecast that Portland General Electric will post 3.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Portland General Electric news, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the sale, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Benjamin Felton sold 1,886 shares of Portland General Electric stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the transaction, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Angelica Espinosa sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total transaction of $88,600.00. Following the completion of the transaction, the senior vice president now directly owns 16,763 shares in the company, valued at $742,600.90. The disclosure for this sale can be found here. Insiders have sold a total of 4,849 shares of company stock valued at $222,492 over the last quarter. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in POR. Fifth Third Bancorp increased its position in Portland General Electric by 39.3% during the 1st quarter. Fifth Third Bancorp now owns 883 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 249 shares during the period. Xponance Inc. raised its position in Portland General Electric by 2.0% in the fourth quarter. Xponance Inc. now owns 14,629 shares of the utilities provider’s stock worth $634,000 after acquiring an additional 282 shares in the last quarter. Strs Ohio lifted its holdings in Portland General Electric by 3.3% in the fourth quarter. Strs Ohio now owns 9,500 shares of the utilities provider’s stock valued at $411,000 after acquiring an additional 300 shares during the period. New York State Teachers Retirement System boosted its position in shares of Portland General Electric by 1.3% during the 1st quarter. New York State Teachers Retirement System now owns 24,061 shares of the utilities provider’s stock worth $1,011,000 after purchasing an additional 300 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Portland General Electric by 1.4% during the 4th quarter. Van ECK Associates Corp now owns 22,856 shares of the utilities provider’s stock worth $991,000 after purchasing an additional 321 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.