Short Interest in Portland General Electric (POR) Rises By 86.6%

Portland General Electric (NYSE:POR) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 1,463,124 shares, a growth of 86.6% from the January 12th total of 784,250 shares. Based on an average daily volume of 754,357 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.7% of the company’s shares are sold short.

Portland General Electric (NYSE:POR) opened at $40.43 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Portland General Electric has a fifty-two week low of $39.40 and a fifty-two week high of $50.11. The company has a market cap of $3,600.00, a P/E ratio of 17.50, a PEG ratio of 4.97 and a beta of 0.19.

Several research firms have weighed in on POR. Wells Fargo & Co set a $42.00 target price on shares of Portland General Electric and gave the company a “hold” rating in a report on Tuesday. UBS Group began coverage on shares of Portland General Electric in a report on Friday, February 2nd. They issued a “sell” rating and a $40.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on shares of Portland General Electric from $48.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Zacks Investment Research lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Finally, Guggenheim reiterated a “hold” rating and issued a $48.00 target price on shares of Portland General Electric in a report on Wednesday, January 3rd. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Portland General Electric presently has a consensus rating of “Hold” and an average target price of $44.25.

Several hedge funds have recently modified their holdings of POR. Cerebellum GP LLC acquired a new position in shares of Portland General Electric in the 4th quarter worth approximately $122,000. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Portland General Electric in the 2nd quarter worth approximately $141,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Portland General Electric in the 4th quarter worth approximately $161,000. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Portland General Electric by 121.2% in 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 last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Portland General Electric in the 3rd quarter worth approximately $201,000. Hedge funds and other institutional investors own 89.80% of the company’s stock.

WARNING: “Short Interest in Portland General Electric (POR) Rises By 86.6%” was originally published by American Banking News and is the property of of American Banking News. If you are accessing this article on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this article can be accessed at https://www.americanbankingnews.com/2018/02/14/short-interest-in-portland-general-electric-por-rises-by-86-6.html.

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.

Receive News & Ratings for Portland General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portland General Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply