Portland General Electric (NYSE:POR) Given New $42.00 Price Target at Barclays

Portland General Electric (NYSE:POR) had its price objective dropped by equities research analysts at Barclays from $48.00 to $42.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective suggests a potential upside of 1.85% from the stock’s current price.

Several other equities research analysts have also commented on the stock. KeyCorp decreased their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. UBS Group reaffirmed a “neutral” rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Bank of America dropped their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. Finally, JPMorgan Chase & Co. increased their target price on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and a consensus price target of $48.13.

Portland General Electric Stock Performance

NYSE:POR opened at $41.24 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The firm’s fifty day simple moving average is $44.33 and its 200-day simple moving average is $46.26. The stock has a market cap of $4.35 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.05 and a beta of 0.60.

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

Hedge Funds Weigh In On Portland General Electric

Hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Portland General Electric during the third quarter valued at approximately $25,000. Allworth Financial LP increased its holdings in Portland General Electric by 74.4% in 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. Versant Capital Management Inc raised its position in Portland General Electric by 151.0% in the fourth 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 during the period. Quarry LP lifted its stake in shares of Portland General Electric by 962.3% during the second quarter. Quarry LP now owns 1,636 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 1,482 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Portland General Electric in the fourth quarter worth about $71,000.

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.