Portland General Electric (NYSE:POR) Receives New Coverage from Analysts at Credit Suisse Group

Stock analysts at Credit Suisse Group initiated coverage on shares of Portland General Electric (NYSE:PORGet Rating) in a research report issued on Monday, The Fly reports. The firm set an “underperform” rating on the utilities provider’s stock.

POR has been the topic of several other research reports. Mizuho raised Portland General Electric from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $54.00 to $61.00 in a research note on Thursday, April 14th. Zacks Investment Research lowered Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. Barclays upgraded Portland General Electric from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $53.00 to $57.00 in a report on Tuesday, April 19th. StockNews.com initiated coverage on Portland General Electric in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Wells Fargo & Company increased their price objective on Portland General Electric from $53.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, April 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and a consensus target price of $59.00.

Shares of POR traded down $0.45 during mid-day trading on Monday, reaching $52.66. 877,608 shares of the company’s stock traded hands, compared to its average volume of 552,340. The stock has a market cap of $4.72 billion, a P/E ratio of 19.36, a P/E/G ratio of 4.28 and a beta of 0.45. The stock’s 50-day moving average is $53.41 and its two-hundred day moving average is $51.76. Portland General Electric has a 12 month low of $45.40 and a 12 month high of $57.03. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.90 and a quick ratio of 0.79.

Portland General Electric (NYSE:PORGet Rating) last announced its quarterly earnings data on Thursday, February 17th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.01). Portland General Electric had a return on equity of 9.11% and a net margin of 10.18%. The firm had revenue of $608.00 million during the quarter, compared to the consensus estimate of $533.12 million. During the same period last year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts predict that Portland General Electric will post 2.78 earnings per share for the current year.

In other Portland General Electric news, VP Larry Neal Bekkedahl sold 2,500 shares of the stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $54.73, for a total transaction of $136,825.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kathryn Jean Jackson sold 5,000 shares of the stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of $48.79, for a total value of $243,950.00. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd acquired a new stake in shares of Portland General Electric during the 4th quarter valued at about $29,000. CWM LLC acquired a new stake in shares of Portland General Electric during the 4th quarter valued at about $44,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Portland General Electric during the 3rd quarter valued at about $54,000. Confluence Wealth Services Inc. purchased a new position in Portland General Electric in the 4th quarter valued at about $56,000. Finally, Marshall Wace North America L.P. purchased a new position in Portland General Electric in the 1st quarter valued at about $57,000. 92.24% of the stock is currently owned by institutional investors.

About Portland General Electric (Get Rating)

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, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.

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