Portland General Electric (NYSE:POR) Given New $42.00 Price Target at Jefferies Financial Group

Portland General Electric (NYSE:POR) had its price objective lowered by Jefferies Financial Group from $47.00 to $42.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the utilities provider’s stock.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays dropped their target price on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday. KeyCorp reduced their price target on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Bank of America lowered their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. Finally, UBS Group reissued a “neutral” rating and issued a $47.00 price target (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $47.38.

Portland General Electric Stock Down 1.4 %

POR stock opened at $41.75 on Tuesday. The stock has a 50-day simple moving average of $44.14 and a two-hundred day simple moving average of $46.22. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85. The firm has a market capitalization of $4.40 billion, a PE ratio of 12.46, a PEG ratio of 1.05 and a beta of 0.60.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in POR. Y Intercept Hong Kong Ltd purchased a new position in Portland General Electric during the 3rd quarter valued at approximately $596,000. Nordea Investment Management AB grew its holdings in shares of Portland General Electric by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock valued at $43,058,000 after purchasing an additional 19,057 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Portland General Electric by 114.1% in the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after purchasing an additional 81,701 shares in the last quarter. HighTower Advisors LLC increased its position in Portland General Electric by 14.2% in the third quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock worth $4,114,000 after purchasing an additional 10,643 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Portland General Electric by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock valued at $117,114,000 after purchasing an additional 25,332 shares in 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.