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

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

Several other research firms have also recently weighed in on POR. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Finally, Bank of America initiated coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective for the company. 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 company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.57.

Portland General Electric Stock Down 0.5 %

Shares of Portland General Electric stock opened at $48.83 on Wednesday. The stock has a market capitalization of $5.03 billion, a P/E 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. The stock has a 50 day moving average price of $47.14 and a two-hundred day moving average price of $44.22. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $49.45.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. Equities analysts expect that Portland General Electric will post 3.09 earnings per share for the current year.

Insider Buying and Selling

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the transaction, the vice president now directly owns 22,606 shares in the company, valued at $1,045,527.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total value of $90,528.00. Following the completion of the sale, the chief operating officer now directly owns 30,142 shares in the company, valued at $1,446,816. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the sale, the vice president now owns 22,606 shares of the company’s stock, valued at $1,045,527.50. The disclosure for this sale can be found here. Insiders sold a total of 5,486 shares of company stock valued at $262,153 over the last ninety days. 0.54% of the stock is owned by company insiders.

Institutional Trading of Portland General Electric

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new stake in Portland General Electric in the second quarter worth about $399,000. Dana Investment Advisors Inc. boosted its holdings in Portland General Electric by 1.6% during the second quarter. Dana Investment Advisors Inc. now owns 120,518 shares of the utilities provider’s stock worth $5,211,000 after buying an additional 1,883 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Portland General Electric by 6.1% during the second quarter. Cetera Investment Advisers now owns 56,066 shares of the utilities provider’s stock worth $2,424,000 after buying an additional 3,233 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Portland General Electric during the second quarter worth about $7,459,000. Finally, Quarry LP boosted its holdings in Portland General Electric by 962.3% during the second quarter. Quarry LP now owns 1,636 shares of the utilities provider’s stock worth $71,000 after buying an additional 1,482 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.