Portland General Electric (NYSE:POR) Reaches New 52-Week High – What’s Next?

Shares of Portland General Electric Company (NYSE:POR) reached a new 52-week high during trading on Wednesday . The company traded as high as $51.71 and last traded at $51.6550, with a volume of 816484 shares. The stock had previously closed at $51.26.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on POR. Barclays increased their price objective on shares of Portland General Electric from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Wells Fargo & Company upped their target price on Portland General Electric from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 20th. LADENBURG THALM/SH SH reiterated a “sell” rating and issued a $43.00 price target on shares of Portland General Electric in a report on Thursday, December 4th. Loop Capital set a $48.00 price target on Portland General Electric in a research note on Tuesday, December 30th. Finally, JPMorgan Chase & Co. upped their price objective on Portland General Electric from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.42.

Portland General Electric Price Performance

The firm has a market capitalization of $5.81 billion, a P/E ratio of 18.78, a P/E/G ratio of 4.43 and a beta of 0.67. The stock’s 50 day simple moving average is $49.05 and its 200 day simple moving average is $46.17. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.95 and a current ratio of 1.08.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of POR. Campbell & CO Investment Adviser LLC grew its holdings in Portland General Electric by 38.8% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 44,777 shares of the utilities provider’s stock worth $1,819,000 after acquiring an additional 12,518 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Portland General Electric by 143.8% in the 3rd quarter. SG Americas Securities LLC now owns 88,381 shares of the utilities provider’s stock worth $3,889,000 after purchasing an additional 52,127 shares during the period. ATLAS Infrastructure Partners UK Ltd. boosted its stake in shares of Portland General Electric by 24.1% during the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 5,459,258 shares of the utilities provider’s stock valued at $221,810,000 after purchasing an additional 1,058,623 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Portland General Electric during the second quarter valued at approximately $376,000. Finally, Covalis Capital LLP bought a new position in Portland General Electric in the second quarter worth approximately $17,917,000.

About Portland General Electric

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.