Analysts at Bank of America Corporation assumed coverage on shares of Portland General Electric Company (NYSE:POR) in a research note issued on Tuesday. The firm set a “neutral” rating and a $45.00 price target on the utilities provider’s stock. Bank of America Corporation’s price target points to a potential downside of 1.21% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Williams Capital cut Portland General Electric from a “hold” rating to a “sell” rating and dropped their price target for the company from $44.00 to $41.00 in a research note on Monday, July 24th. BidaskClub upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. J P Morgan Chase & Co increased their price target on Portland General Electric from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th. Finally, KeyCorp restated a “hold” rating on shares of Portland General Electric in a research note on Friday, September 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $45.80.

Shares of Portland General Electric (POR) traded down 0.29% during trading on Tuesday, reaching $45.42. The company’s stock had a trading volume of 943,169 shares. The stock’s 50 day moving average price is $46.35 and its 200 day moving average price is $46.10. The company has a market cap of $4.05 billion, a PE ratio of 20.28 and a beta of 0.28. Portland General Electric has a 52 week low of $40.71 and a 52 week high of $48.22.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). Portland General Electric had a net margin of 10.06% and a return on equity of 8.48%. The business had revenue of $449.00 million during the quarter, compared to the consensus estimate of $465.70 million. During the same quarter last year, the company posted $0.42 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Equities research analysts predict that Portland General Electric will post $2.23 EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the business. Huntington National Bank grew its holdings in Portland General Electric by 1.2% in the 2nd quarter. Huntington National Bank now owns 2,809 shares of the utilities provider’s stock valued at $128,000 after buying an additional 34 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in Portland General Electric in the 2nd quarter valued at $141,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Portland General Electric by 52.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,906 shares of the utilities provider’s stock valued at $178,000 after buying an additional 1,352 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Portland General Electric in the 2nd quarter valued at $202,000. Finally, BlueMountain Capital Management LLC grew its holdings in Portland General Electric by 0.3% in the 2nd quarter. BlueMountain Capital Management LLC now owns 5,489 shares of the utilities provider’s stock valued at $251,000 after buying an additional 17 shares in the last quarter. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

Portland General Electric Company Profile

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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