Portland General Electric (NYSE:POR) Upgraded to Buy by The Goldman Sachs Group

Portland General Electric (NYSE:PORGet Rating) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, The Fly reports.

Other analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price target on Portland General Electric from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 19th. Barclays raised shares of Portland General Electric from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $53.00 to $57.00 in a research note on Tuesday, April 19th. Credit Suisse Group began coverage on shares of Portland General Electric in a research note on Monday, April 25th. They issued an “underperform” rating and a $55.00 target price on the stock. Mizuho lowered their price objective on Portland General Electric from $61.00 to $56.00 in a research note on Friday, April 29th. Finally, Zacks Investment Research lowered Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, April 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Portland General Electric has an average rating of “Hold” and an average price target of $57.20.

POR traded up $0.45 during midday trading on Thursday, hitting $49.75. 13,479 shares of the company traded hands, compared to its average volume of 815,304. The company has a current ratio of 0.94, a quick ratio of 0.86 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 4.37 and a beta of 0.53. Portland General Electric has a 52-week low of $45.40 and a 52-week high of $57.03. The business has a 50 day simple moving average of $51.15 and a two-hundred day simple moving average of $51.58.

Portland General Electric (NYSE:PORGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.18). Portland General Electric had a return on equity of 7.74% and a net margin of 8.62%. The firm had revenue of $626.00 million during the quarter, compared to analyst estimates of $610.48 million. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts anticipate that Portland General Electric will post 2.57 earnings per share for the current year.

In related news, VP Larry Neal Bekkedahl sold 2,500 shares of the stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $54.73, for a total transaction of $136,825.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawn L. Farrell acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The stock was purchased at an average price of $48.52 per share, for a total transaction of $194,080.00. Following the acquisition, the director now directly owns 9,223 shares in the company, valued at approximately $447,499.96. The disclosure for this purchase can be found here. Corporate insiders own 0.52% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in POR. New York State Teachers Retirement System boosted its holdings in Portland General Electric by 2.6% in the first quarter. New York State Teachers Retirement System now owns 7,900 shares of the utilities provider’s stock valued at $436,000 after purchasing an additional 200 shares during the period. Advisor Group Holdings Inc. grew its position in shares of Portland General Electric by 3.1% during the third quarter. Advisor Group Holdings Inc. now owns 7,178 shares of the utilities provider’s stock worth $337,000 after buying an additional 213 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Portland General Electric by 7.0% during the third quarter. Captrust Financial Advisors now owns 3,701 shares of the utilities provider’s stock worth $175,000 after buying an additional 241 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its position in shares of Portland General Electric by 2.4% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 11,301 shares of the utilities provider’s stock worth $598,000 after buying an additional 266 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Portland General Electric by 26.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,373 shares of the utilities provider’s stock worth $76,000 after buying an additional 285 shares in the last quarter. 91.92% of the stock is currently owned by hedge funds and other 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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