Portland General Electric (NYSE:POR) Sets New 1-Year High – What’s Next?

Shares of Portland General Electric Company (NYSE:POR) reached a new 52-week high on Tuesday . The company traded as high as $51.15 and last traded at $50.9640, with a volume of 399304 shares traded. The stock had previously closed at $50.11.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on POR. BMO Capital Markets reaffirmed a “market perform” rating on shares of Portland General Electric in a research note on Tuesday, December 30th. Wells Fargo & Company boosted their target price on shares of Portland General Electric from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. increased their price target on shares of Portland General Electric from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. LADENBURG THALM/SH SH reissued a “sell” rating and set a $43.00 price target on shares of Portland General Electric in a research report on Thursday, December 4th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Portland General Electric in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $48.42.

Portland General Electric Trading Up 1.6%

The stock’s 50 day moving average is $49.00 and its 200-day moving average is $45.74. The company has a market cap of $5.73 billion, a P/E ratio of 18.51, a PEG ratio of 4.40 and a beta of 0.67. The company has a current ratio of 1.08, a quick ratio of 0.95 and a debt-to-equity ratio of 1.25.

Portland General Electric (NYSE:POR) last issued its earnings results on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. Portland General Electric had a net margin of 8.63% and a return on equity of 8.32%. The business had revenue of $952.00 million during the quarter, compared to analysts’ expectations of $975.64 million. During the same period in the previous year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Research analysts anticipate that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portland General Electric

Several hedge funds and other institutional investors have recently added to or reduced their stakes in POR. Ballentine Partners LLC boosted its stake in Portland General Electric by 19.1% during the 4th quarter. Ballentine Partners LLC now owns 9,074 shares of the utilities provider’s stock valued at $435,000 after purchasing an additional 1,458 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Portland General Electric by 30.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 22,865 shares of the utilities provider’s stock valued at $1,097,000 after purchasing an additional 5,334 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Portland General Electric by 3.9% during the fourth quarter. Benjamin Edwards Inc. now owns 20,178 shares of the utilities provider’s stock valued at $969,000 after purchasing an additional 758 shares in the last quarter. Strs Ohio boosted its position in shares of Portland General Electric by 287.3% during the fourth quarter. Strs Ohio now owns 30,600 shares of the utilities provider’s stock valued at $1,468,000 after buying an additional 22,700 shares during the last quarter. Finally, Composition Wealth LLC bought a new stake in Portland General Electric in the 4th quarter worth about $240,000.

Portland General Electric Company Profile

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.