Barclays Cuts Portland General Electric (NYSE:POR) Price Target to $42.00

Portland General Electric (NYSE:POR) had its target price reduced by Barclays from $48.00 to $42.00 in a research report released on Monday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other equities analysts have also issued reports on POR. KeyCorp cut 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 report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group reissued a “neutral” rating and issued a $47.00 price target (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Finally, Bank of America dropped their price objective on 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.38.

Portland General Electric Trading Down 1.0 %

NYSE POR opened at $41.30 on Monday. Portland General Electric has a one year low of $39.13 and a one year high of $49.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.05 and a beta of 0.60. The company’s 50-day simple moving average is $44.02 and its two-hundred day simple moving average is $46.19.

Institutional Investors Weigh In On Portland General Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its holdings in shares of Portland General Electric by 11.6% during the fourth quarter. Van ECK Associates Corp now owns 93,330 shares of the utilities provider’s stock valued at $4,071,000 after acquiring an additional 9,715 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Portland General Electric by 121.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 27,557 shares of the utilities provider’s stock worth $1,191,000 after purchasing an additional 15,136 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Portland General Electric by 2.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the utilities provider’s stock worth $1,278,000 after purchasing an additional 700 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Portland General Electric during the 4th quarter valued at approximately $29,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Portland General Electric by 4.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,781 shares of the utilities provider’s stock worth $57,220,000 after buying an additional 51,936 shares during the last quarter.

Portland General Electric Company Profile

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.