Wells Fargo & Co Reiterates $42.00 Price Target for Portland General Electric (POR)

Portland General Electric (NYSE:POR) has been assigned a $42.00 price objective by equities research analysts at Wells Fargo & Co in a research note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the utilities provider’s stock. Wells Fargo & Co’s price objective would indicate a potential upside of 2.74% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Bank of America initiated coverage on shares of Portland General Electric in a report on Tuesday, October 24th. They issued a “neutral” rating and a $45.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Portland General Electric from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Guggenheim reissued a “hold” rating and issued a $48.00 price target on shares of Portland General Electric in a report on Wednesday, January 3rd. Finally, UBS Group initiated coverage on shares of Portland General Electric in a report on Friday, February 2nd. They issued a “sell” rating and a $40.00 price target for the company. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $44.17.

Shares of Portland General Electric (POR) traded up $0.94 during trading on Tuesday, reaching $40.88. 611,831 shares of the company’s stock were exchanged, compared to its average volume of 851,876. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. Portland General Electric has a 12-month low of $39.40 and a 12-month high of $50.11. The company has a market cap of $3,620.00, a P/E ratio of 17.57, a PEG ratio of 4.99 and a beta of 0.19.

Several large investors have recently added to or reduced their stakes in POR. Cerebellum GP LLC bought a new position in shares of Portland General Electric during the 4th quarter worth about $122,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Portland General Electric during the 2nd quarter worth about $141,000. Public Employees Retirement Association of Colorado bought a new position in shares of Portland General Electric during the 4th quarter worth about $161,000. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Portland General Electric by 121.2% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 3,650 shares of the utilities provider’s stock worth $167,000 after acquiring an additional 2,000 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Portland General Electric during the 3rd quarter worth about $201,000. 89.80% of the stock is owned by institutional investors.

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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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