Bank Degroof(ESN) Upgrades Portland General Electric to “Buy” (POR)
Portland General Electric (NYSE:POR) was upgraded by research analysts at Bank Degroof(ESN) from a “hold” rating to a “buy” rating in a report released on Tuesday, American Banking News reports.
Portland General Electric (NYSE:POR) traded up 1.56% during mid-day trading on Tuesday, hitting $28.67. 674,679 shares of the company’s stock traded hands. Portland General Electric has a 52 week low of $24.86 and a 52 week high of $33.26. The stock’s 50-day moving average is $28.61 and its 200-day moving average is $30.43. The company has a market cap of $2.218 billion and a price-to-earnings ratio of 22.97.
Portland General Electric (NYSE:POR) last announced its earnings results on Friday, August 2nd. The company reported ($0.29) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.35 by $0.64. The company had revenue of $403.00 million for the quarter, compared to the consensus estimate of $357.47 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts expect that Portland General Electric will post $1.38 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank upgraded shares of Portland General Electric (NYSE:POR) from a “hold” rating to a “buy” rating in a research note to investors on Tuesday. Separately, analysts at Wells Fargo & Co. upgraded shares of Portland General Electric (NYSE:POR) from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Portland General Electric has a consensus rating of “Buy” and a consensus target price of $32.00.
Portland General Electric Company (NYSE:POR) is a vertically integrated electric utility engaged in the generation, purchase, transmission, distribution and retail sale of electricity in the state of Oregon.
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