Credit Suisse Group Increases Portland General Electric (NYSE:POR) Price Target to $48.00

Portland General Electric (NYSE:PORGet Rating) had its price objective increased by Credit Suisse Group from $46.00 to $48.00 in a research note published on Monday, Benzinga reports. Credit Suisse Group currently has a neutral rating on the utilities provider’s stock.

Several other analysts also recently issued reports on POR. Wells Fargo & Company lifted their price target on Portland General Electric to $53.00 in a research note on Wednesday, December 14th. Guggenheim decreased their price objective on Portland General Electric from $56.00 to $48.00 in a report on Monday, October 24th. Mizuho decreased their price objective on Portland General Electric from $51.00 to $45.00 and set a neutral rating for the company in a report on Friday, October 7th. TheStreet cut Portland General Electric from a b rating to a c+ rating in a report on Wednesday, October 26th. Finally, StockNews.com upgraded Portland General Electric from a hold rating to a buy rating in a report on Tuesday, December 6th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $49.57.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $46.55 on Monday. The company has a market capitalization of $4.16 billion, a PE ratio of 16.81, a PEG ratio of 3.20 and a beta of 0.57. Portland General Electric has a 12 month low of $41.58 and a 12 month high of $57.03. The company has a current ratio of 0.76, a quick ratio of 0.67 and a debt-to-equity ratio of 1.30. The stock’s fifty day simple moving average is $48.35 and its 200 day simple moving average is $48.71.

Portland General Electric (NYSE:PORGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. Portland General Electric had a return on equity of 9.09% and a net margin of 9.66%. The firm had revenue of $743.00 million for the quarter, compared to the consensus estimate of $636.61 million. During the same quarter last year, the business posted $0.56 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, research analysts predict that Portland General Electric will post 2.84 EPS for the current year.

Hedge Funds Weigh In On Portland General Electric

A number of hedge funds and other institutional investors have recently bought and sold shares of POR. Bessemer Group Inc. boosted its holdings in shares of Portland General Electric by 308.8% during the third quarter. Bessemer Group Inc. now owns 834 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 630 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Portland General Electric by 69.1% during the second quarter. Quadrant Capital Group LLC now owns 778 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 318 shares during the period. Ronald Blue Trust Inc. bought a new stake in shares of Portland General Electric during the second quarter worth approximately $47,000. Assetmark Inc. boosted its holdings in shares of Portland General Electric by 120.4% during the second quarter. Assetmark Inc. now owns 996 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 544 shares during the period. Finally, American National Bank bought a new stake in shares of Portland General Electric during the third quarter worth approximately $50,000. Institutional investors own 97.03% of the company’s stock.

Portland General Electric Company Profile

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Portland General Electric Co engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The firm also sells electricity and natural gas in the wholesale market to utilities, brokers, and power marketers. It also serves residential, commercial and non-residential customers.

Further Reading

Analyst Recommendations for Portland General Electric (NYSE:POR)

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