Portland General Electric (NYSE:POR) Downgraded by LADENBURG THALM/SH SH to Neutral

Portland General Electric (NYSE:POR) was downgraded by equities research analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports. They currently have a $42.00 price objective on the utilities provider’s stock. LADENBURG THALM/SH SH’s price target suggests a potential upside of 0.92% from the company’s previous close.

A number of other brokerages have also commented on POR. 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. Bank of America cut their target price on shares of 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. JPMorgan Chase & Co. boosted their target price 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 price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Finally, UBS Group reiterated a “neutral” rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.78.

Portland General Electric Price Performance

POR stock opened at $41.62 on Tuesday. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 1.05 and a beta of 0.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The company has a 50 day simple moving average of $42.50 and a 200 day simple moving average of $45.68. Portland General Electric has a 1 year low of $39.49 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (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 company had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the business earned $0.67 earnings per share. Research 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 large investors have recently bought and sold shares of POR. Y Intercept Hong Kong Ltd bought a new stake in shares of Portland General Electric during the 3rd quarter valued at about $596,000. Nordea Investment Management AB boosted its holdings in shares of Portland General Electric by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock worth $43,058,000 after buying an additional 19,057 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Portland General Electric by 114.1% during the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock worth $7,289,000 after buying an additional 81,701 shares during the period. Synergy Asset Management LLC increased its stake in shares of Portland General Electric by 260.6% in the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock valued at $5,096,000 after acquiring an additional 82,743 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Portland General Electric by 14.2% during the third quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock valued at $4,114,000 after purchasing an additional 10,643 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.