JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Portland General Electric (NYSE:POR) Stock

Portland General Electric (NYSE:POR) had its price objective upped by research analysts at JPMorgan Chase & Co. from $47.00 to $49.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 1.86% from the company’s current price.

POR has been the topic of a number of other reports. Wells Fargo & Company initiated coverage on shares of Portland General Electric in a research report on Monday, October 27th. They issued an “equal weight” rating and a $45.00 price target on the stock. Jefferies Financial Group lifted their target price on shares of Portland General Electric from $43.00 to $46.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Portland General Electric in a research report on Monday, December 8th. Mizuho set a $47.00 price target on Portland General Electric in a report on Monday, November 3rd. Finally, BTIG Research raised Portland General Electric to a “strong-buy” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $47.33.

Portland General Electric Stock Performance

Shares of NYSE:POR opened at $48.11 on Friday. The business’s fifty day moving average price is $47.32 and its two-hundred day moving average price is $43.71. Portland General Electric has a fifty-two week low of $39.54 and a fifty-two week high of $51.14. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 4.42 and a beta of 0.67. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.08 and a quick ratio of 0.95.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. Portland General Electric had a return on equity of 8.32% and a net margin of 8.63%.The company had revenue of $952.00 million during the quarter, compared to analysts’ expectations of $975.64 million. During the same period last year, the business earned $0.90 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. As a group, analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Portland General Electric

Hedge funds and other institutional investors have recently made changes to their positions in the company. LPL Financial LLC lifted its stake in shares of Portland General Electric by 27.9% during the first quarter. LPL Financial LLC now owns 62,299 shares of the utilities provider’s stock valued at $2,779,000 after acquiring an additional 13,599 shares during the period. PNC Financial Services Group Inc. lifted its position in Portland General Electric by 6.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,026 shares of the utilities provider’s stock valued at $403,000 after purchasing an additional 543 shares during the period. Vanguard Group Inc. boosted its stake in shares of Portland General Electric by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider’s stock valued at $556,266,000 after purchasing an additional 559,201 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Portland General Electric by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,373,907 shares of the utilities provider’s stock valued at $61,276,000 after purchasing an additional 60,625 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Portland General Electric by 31.1% during the 1st quarter. Deutsche Bank AG now owns 294,325 shares of the utilities provider’s stock worth $13,127,000 after buying an additional 69,865 shares during the period.

Portland General Electric Company Profile

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.