Portland General Electric (NYSE:POR) Rating Lowered to “Neutral” at UBS Group

Portland General Electric (NYSE:POR) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $51.00 price objective on the utilities provider’s stock. UBS Group’s price target would suggest a potential upside of 3.71% from the stock’s previous close.

Several other brokerages have also recently issued reports on POR. Wells Fargo & Company started coverage on Portland General Electric in a research report on Monday, October 27th. They set an “equal weight” rating and a $45.00 target price on the stock. Mizuho set a $47.00 price objective on Portland General Electric in a research note on Monday, November 3rd. Zacks Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. BTIG Research upgraded shares of Portland General Electric to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Jefferies Financial Group boosted their price target on shares of Portland General Electric from $43.00 to $46.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.92.

Portland General Electric Trading Up 1.0%

NYSE:POR opened at $49.18 on Wednesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84. Portland General Electric has a one year low of $39.54 and a one year high of $50.95. The company has a market cap of $5.53 billion, a PE ratio of 18.15, a PEG ratio of 4.18 and a beta of 0.67. The firm has a 50-day moving average of $45.29 and a 200-day moving average of $42.92.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $952.00 million during the quarter, compared to the consensus estimate of $975.64 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, equities research analysts expect that Portland General Electric will post 3.21 EPS for the current fiscal year.

Insider Buying and Selling at Portland General Electric

In related news, CEO Maria M. Pope sold 18,896 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $42.50, for a total transaction of $803,080.00. Following the completion of the transaction, the chief executive officer owned 194,135 shares in the company, valued at approximately $8,250,737.50. This represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Portland General Electric by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider’s stock valued at $556,266,000 after acquiring an additional 559,201 shares during the period. ATLAS Infrastructure Partners UK Ltd. lifted its stake in Portland General Electric by 24.1% in the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 5,459,258 shares of the utilities provider’s stock valued at $221,810,000 after purchasing an additional 1,058,623 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Portland General Electric by 22.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider’s stock valued at $216,950,000 after purchasing an additional 904,692 shares during the period. State Street Corp increased its position in Portland General Electric by 2.4% in the second quarter. State Street Corp now owns 4,551,369 shares of the utilities provider’s stock worth $187,200,000 after buying an additional 107,717 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Portland General Electric by 23.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,985,941 shares of the utilities provider’s stock worth $131,381,000 after buying an additional 564,379 shares during 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. 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.