Portland General Electric (NYSE:POR) Stock Price Target Cut by UBS Group

Portland General Electric (NYSE:POR – Get Free Report) had its target price reduced by analysts at UBS Group from $53.00 to $50.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. UBS Group’s price target suggests a potential upside of 13.00% from the stock’s current price.

A number of other brokerages also recently issued reports on POR. KeyCorp reissued a “sector weight” rating on shares of Portland General Electric in a research note on Thursday. BMO Capital Markets set a $52.00 price objective on Portland General Electric in a research note on Tuesday, August 4th. Zacks Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings downgraded shares of Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Portland General Electric from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 9th. Two research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $50.65.

Check Out Our Latest Analysis on POR

Portland General Electric Stock Down 5.6%

Shares of POR stock traded down $2.60 during mid-day trading on Monday, hitting $44.25. The company’s stock had a trading volume of 2,767,499 shares, compared to its average volume of 1,242,340. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.98. Portland General Electric has a 52-week low of $42.58 and a 52-week high of $54.62. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 2.02 and a beta of 0.51. The business has a 50-day moving average price of $49.41 and a 200 day moving average price of $50.60.

Portland General Electric (NYSE:POR – Get Free Report) last released 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). The company had revenue of $814.00 million for the quarter, compared to analysts’ expectations of $839.75 million. Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. Portland General Electric’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. Research analysts predict that Portland General Electric will post 3.38 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael Lewis sold 1,537 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $51.83, for a total value of $79,662.71. Following the completion of the transaction, the director directly owned 15,045 shares of the company’s stock, valued at $779,782.35. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in POR. BlackRock Inc. raised its stake in Portland General Electric by 7.4% during the 2nd quarter. BlackRock Inc. now owns 18,719,655 shares of the utilities provider’s stock valued at $970,240,000 after buying an additional 1,292,219 shares during the last quarter. 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 buying an additional 372,165 shares in the last quarter. Clearbridge Investments LLC lifted its position in Portland General Electric by 1,342.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock valued at $222,824,000 after acquiring an additional 4,321,305 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Portland General Electric by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,805,796 shares of the utilities provider’s stock valued at $134,680,000 after buying an additional 73,185 shares during the last quarter. Finally, HITE Hedge Asset Management LLC raised its holdings in shares of Portland General Electric by 27.7% during the fourth quarter. HITE Hedge Asset Management LLC now owns 2,654,761 shares of the utilities provider’s stock worth $127,402,000 after purchasing an additional 576,275 shares during the last quarter.

Portland General Electric Company Profile

(Get Free Report)

Portland General Electric Company (NYSE: POR) is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity in Oregon. The company serves residential, commercial, industrial and other customers, offering electric delivery and related energy services across its service territory.

Founded in 1889, Portland General Electric is headquartered in Portland, Oregon, and serves communities in the Portland metropolitan area and the Willamette Valley, among other parts of the state.

Further Reading

Analyst Recommendations for Portland General Electric (NYSE:POR)

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