Portland General Electric Company (NYSE:POR) Stock Has Average Target Price of $50.15 According to Analysts

Portland General Electric Company (NYSE:POR) has been given a consensus rating of “Hold” by the ten ratings firms that are covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $50.50.

Several research firms recently weighed in on POR. BTIG Research set a $57.00 price objective on shares of Portland General Electric in a research report on Tuesday. Weiss Ratings cut Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. KeyCorp reissued a “sector weight” rating on shares of Portland General Electric in a research note on Thursday, September 24th. BMO Capital Markets reduced their price objective on shares of Portland General Electric from $52.00 to $47.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 30th. Finally, Zacks Research raised Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th.

Insiders Place Their Bets

In other Portland General Electric news, Director Michael Lewis sold 1,537 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $51.83, for a total value of $79,662.71. Following the sale, the director directly owned 15,045 shares in the company, valued at approximately $779,782.35. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Portland General Electric

A number of hedge funds have recently modified their holdings of POR. BlackRock Inc. boosted its holdings in Portland General Electric by 7.4% in the 2nd quarter. BlackRock Inc. now owns 18,719,655 shares of the utilities provider’s stock valued at $970,240,000 after purchasing an additional 1,292,219 shares during the period. State Street Corp grew its position in shares of Portland General Electric by 8.0% during the 2nd quarter. State Street Corp now owns 5,019,860 shares of the utilities provider’s stock worth $262,810,000 after purchasing an additional 372,165 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Portland General Electric by 31.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,329,723 shares of the utilities provider’s stock worth $120,750,000 after purchasing an additional 553,570 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Portland General Electric by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,831,142 shares of the utilities provider’s stock worth $96,629,000 after purchasing an additional 18,146 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Portland General Electric by 60.6% during the first quarter. Bank of America Corp DE now owns 1,660,446 shares of the utilities provider’s stock worth $87,622,000 after purchasing an additional 626,223 shares during the period.

Portland General Electric Stock Performance

Shares of NYSE POR opened at $44.55 on Friday. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 2.71 and a beta of 0.49. Portland General Electric has a one year low of $43.26 and a one year high of $54.62. The business has a fifty day simple moving average of $47.06 and a 200 day simple moving average of $49.51. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Portland General Electric (NYSE:POR) last issued its earnings results on Thursday, July 30th. The utilities provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. The business had revenue of $814.00 million for the quarter, compared to analyst estimates of $839.75 million. During the same quarter last year, the firm posted $0.66 earnings per share. Portland General Electric’s revenue was up .9% on a year-over-year basis. Sell-side analysts expect that Portland General Electric will post 3.32 EPS for the current year.

Portland General Electric Company Profile

Portland General Electric Company (NYSE:POR) is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers. The company also offers energy-management programs, renewable energy options and other services designed to support energy efficiency and electrification.

PGE serves communities throughout the state of Oregon, including the Portland metropolitan area and the Willamette Valley. Its operations include a diverse portfolio of power generation resources, transmission and distribution infrastructure, and programs supporting the integration of renewable energy and electric vehicles.

The company traces its history to the development of electric service in Oregon in the late 19th century.