Portland General Electric (NYSE:POR) Stock Rating Upgraded by Bank of America

Portland General Electric (NYSE:POR) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Wednesday, Stock Target Advisor reports. The brokerage currently has a $39.00 target price on the utilities provider’s stock. Bank of America‘s target price would indicate a potential upside of 15.21% from the company’s previous close.

Several other brokerages have also recently issued reports on POR. Mizuho dropped their target price on shares of Portland General Electric from $48.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Zacks Investment Research cut shares of Portland General Electric from a “buy” rating to a “hold” rating in a report on Thursday, August 27th. BofA Securities upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Wednesday. Sidoti dropped their target price on shares of Portland General Electric from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, August 25th. Finally, TheStreet cut shares of Portland General Electric from a “b-” rating to a “c+” rating in a report on Monday, July 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Portland General Electric has a consensus rating of “Hold” and a consensus price target of $43.40.

Shares of NYSE:POR traded up $0.16 during trading on Wednesday, reaching $33.85. 4,931 shares of the stock traded hands, compared to its average volume of 843,036. The stock has a 50-day moving average of $40.35 and a two-hundred day moving average of $44.83. Portland General Electric has a 52-week low of $31.96 and a 52-week high of $63.08. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.82 and a current ratio of 0.96. The stock has a market cap of $3.02 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 4.70 and a beta of 0.21.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, July 31st. The utilities provider reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.10. Portland General Electric had a net margin of 11.07% and a return on equity of 9.04%. The firm had revenue of $469.00 million for the quarter, compared to analysts’ expectations of $455.83 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts expect that Portland General Electric will post 1.45 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Baird Financial Group Inc. boosted its stake in shares of Portland General Electric by 4.4% during the 2nd quarter. Baird Financial Group Inc. now owns 6,349 shares of the utilities provider’s stock worth $354,000 after acquiring an additional 269 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Portland General Electric by 1.8% in the 2nd quarter. Macquarie Group Ltd. now owns 18,327 shares of the utilities provider’s stock worth $766,000 after buying an additional 319 shares in the last quarter. M&T Bank Corp grew its stake in shares of Portland General Electric by 8.5% in the 1st quarter. M&T Bank Corp now owns 5,461 shares of the utilities provider’s stock worth $262,000 after buying an additional 426 shares in the last quarter. Bank of Hawaii grew its stake in shares of Portland General Electric by 4.1% in the 1st quarter. Bank of Hawaii now owns 11,242 shares of the utilities provider’s stock worth $539,000 after buying an additional 443 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Portland General Electric by 27.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,547 shares of the utilities provider’s stock worth $122,000 after buying an additional 547 shares in the last quarter.

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. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.

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