Portland General Electric Company (POR) Upgraded at BidaskClub

Portland General Electric Company (NYSE:POR) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, July 24th.

POR has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Friday, May 5th. Barclays PLC restated an “underweight” rating and set a $44.00 price objective (up previously from $41.00) on shares of Portland General Electric in a report on Sunday, April 23rd. Williams Capital downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating and cut their price objective for the company from $44.00 to $41.00 in a report on Monday, July 24th. Finally, UBS AG downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating in a report on Tuesday, May 2nd. Five research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has a consensus rating of “Sell” and a consensus target price of $42.00.

Portland General Electric (POR) traded down 1.21% during mid-day trading on Monday, reaching $45.90. 408,913 shares of the company’s stock were exchanged. Portland General Electric has a one year low of $40.28 and a one year high of $48.06. The company’s 50-day moving average is $45.37 and its 200 day moving average is $45.24. The firm has a market capitalization of $4.09 billion, a P/E ratio of 20.49 and a beta of 0.29.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, July 28th. The utilities provider reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.08. The firm had revenue of $449 million during the quarter, compared to the consensus estimate of $465.70 million. Portland General Electric had a return on equity of 8.48% and a net margin of 10.06%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities analysts predict that Portland General Electric will post $2.22 earnings per share for the current fiscal year.

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In related news, insider William O. Nicholson sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $45.10, for a total value of $270,600.00. Following the sale, the insider now owns 16,313 shares in the company, valued at $735,716.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Campbell A. Henderson sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $45.01, for a total value of $135,030.00. Following the completion of the sale, the vice president now owns 20,424 shares in the company, valued at approximately $919,284.24. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Becker Capital Management Inc. purchased a new stake in shares of Portland General Electric during the fourth quarter worth approximately $233,000. Teachers Advisors LLC raised its stake in shares of Portland General Electric by 3.1% in the fourth quarter. Teachers Advisors LLC now owns 147,329 shares of the utilities provider’s stock worth $6,384,000 after buying an additional 4,432 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Portland General Electric by 21.2% in the fourth quarter. Macquarie Group Ltd. now owns 25,200 shares of the utilities provider’s stock worth $1,092,000 after buying an additional 4,400 shares in the last quarter. Foundry Partners LLC raised its stake in shares of Portland General Electric by 3.3% in the first quarter. Foundry Partners LLC now owns 256,522 shares of the utilities provider’s stock worth $11,395,000 after buying an additional 8,168 shares in the last quarter. Finally, Cable Hill Partners LLC raised its stake in shares of Portland General Electric by 0.4% in the first quarter. Cable Hill Partners LLC now owns 4,318 shares of the utilities provider’s stock worth $192,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 95.29% of the company’s stock.

About Portland General Electric

Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.

Analyst Recommendations for Portland General Electric (NYSE:POR)

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