Portland General Electric (NYSE:POR) Downgraded by Barclays to Equal Weight

Portland General Electric (NYSE:POR) was downgraded by Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. They presently have a $49.00 target price on the utilities provider’s stock, up from their previous target price of $48.00. Barclays‘s target price indicates a potential upside of 0.35% from the company’s current price.

A number of other analysts have also issued reports on POR. StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Bank of America began coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target for the company. Finally, KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.57.

Portland General Electric Trading Down 0.5 %

Shares of POR stock opened at $48.83 on Wednesday. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 18.71 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $49.45. The firm’s 50 day moving average price is $47.14 and its two-hundred day moving average price is $44.22.

Portland General Electric (NYSE:POR) last announced 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. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The firm had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $716.43 million. During the same period in the previous year, the company posted $0.44 earnings per share. Portland General Electric’s revenue was up 17.0% compared to the same quarter last year. On average, analysts anticipate that Portland General Electric will post 3.09 EPS for the current year.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total value of $90,528.00. Following the transaction, the chief operating officer now owns 30,142 shares in the company, valued at approximately $1,446,816. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the transaction, the senior vice president now owns 14,263 shares in the company, valued at approximately $688,902.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,486 shares of company stock valued at $262,153. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Portland General Electric

Hedge funds have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. acquired a new position in Portland General Electric in the fourth quarter worth approximately $25,000. Massmutual Trust Co. FSB ADV increased its holdings in Portland General Electric by 767.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after buying an additional 514 shares during the last quarter. LRI Investments LLC acquired a new position in Portland General Electric in the first quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Portland General Electric in the second quarter worth approximately $33,000. Finally, Mather Group LLC. acquired a new position in Portland General Electric in the first quarter worth approximately $34,000.

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.