On September 30, 2023, research analysts at Mizuho decreased the target price for Portland General Electric (NYSE:POR) from $44.00 to $42.00, according to a report by FlyOnTheWall. Mizuho’s revised price target indicates a potential upside of 3.30% from the company’s current price.
Shares of POR on NYSE opened at $40.66 on Friday. Over the past year, Portland General Electric has seen a low of $40.55 and a high of $51.58. The company currently holds a market capitalization of $4.11 billion, with a P/E ratio of 16.94 and a P/E/G ratio of 2.57. It has a beta value of 0.56, indicating relatively lower volatility compared to the overall market trends.
As per recent data, the stock’s 50-day moving average stands at $44.96 while its 200-day moving average is recorded at $47.48.The company maintains financial health with a debt-to-equity ratio of 1.18 and healthy liquidity ratios such as current ratio and quick ratio standing at 0.89 and 0.75 respectively.
In terms of ownership, several institutional investors and hedge funds have made changes to their stakes in POR in recent times. BlackRock Inc., for example, increased its stake by 8.4% during the second quarter and now owns approximately 12,672,161 shares valued at around $593 million.Another major institutional investor,Vanguard Group Inc., also added to its holdings with an increase in shares by approximately8 .1% during Q3.There are other well-known investment firms like Wellington Management Group LLP which increased their holdings by around21 .8%during Q1, currently holding6 ,067 ,961 shares valued at approximately$334 million.State Street Corp also grew its position in the second quarter by 5.1% to own3 ,615,988 shares valued at around$171 million.Additionally,FMR LLC increased its stake by 2.0%during Q1 and now owns approximately 3,550,262 shares.
Portland General Electric last released its earnings results on Friday, July 28th. The utilities provider reported earnings per share (EPS) of $0.44 for the quarter, falling short of the consensus estimate of $0.49 by ($0.05). The company saw a return on equity of 8.03% and a net margin of 7.82%. The firm’s revenue for the quarter was $648 million, surpassing the consensus estimate of $571.82 million. This showed a year-over-year growth rate of 9.6%. In the same period the previous year, Portland General Electric had posted earnings per share (EPS) of $0.72.The average forecast from sell-side analysts is that Portland General Electric will achieve earnings per share (EPS) of approximately2 .67for the current fiscal year.
In conclusion, Mizuho has lowered its target price for Portland General Electric based on recent information and analysis. However,the stock still holds potential with a suggested upside from its current price.The company maintains stability with a relatively low beta value and reasonable financial ratios.Its earnings report showcased some weaknesses but also indicated revenue growth.Despite these developments,POR remains an interesting stock to watch in the coming months as it navigates through market dynamics and works towards improving its overall performance in line with investor expectations
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Analysis of Portland General Electric’s Stock Ratings and Insider Transactions
In the realm of financial analysis and stock ratings, it is not uncommon for numerous research firms to weigh in on the value and prospects of a particular company. Portland General Electric (POR) is no exception, as several firms have recently shared their opinions on the utility company’s stock.
One such firm, StockNews.com, upgraded POR from a “sell” rating to a “hold” rating in a research report published on September 23rd. This favorable change indicates an increased perception of the company’s potential for future growth and stability. Similarly, Barclays initiated coverage of POR on August 23rd with an “equal weight” rating and set a target price of $43.00 per share.
UBS Group also began covering Portland General Electric on August 22nd, giving it a “neutral” rating with a $46.00 price target. These assessments suggest that the firm has a neutral stance on the stock’s performance and valuation.
However, not all research firms were as optimistic about POR’s prospects. TheStreet downgraded the stock from a “b-” rating to a “c+” rating in a research note released on September 13th. Meanwhile, online classifieds platform 58.com reiterated its “downgrade” rating on POR shares in June, highlighting what seems to be reservations about its future performance.
Overall, six analysts have assigned POR a hold rating, while three analysts have expressed confidence in its potential by issuing buy ratings. Bloomberg reports that these individual assessments culminate in a consensus rating of “Hold” for Portland General Electric, with an average target price of $48.88.
Shifting gears to recent insider activity within the company, Vice President Anne Frances Mersereau sold 10,891 shares of POR stock on August 25th. The transaction was executed at an average price of $44.16 per share, totaling $480,946.56 in value. Following this sale, Mersereau now holds 7,071 shares of Portland General Electric directly, valued at $312,255.36. Details of this transaction can be found in the document filed with the Securities & Exchange Commission.
It is worth noting that insiders own approximately 0.51% of POR’s outstanding shares. Insights into insider trading activities often provide valuable information to investors and analysts seeking to gauge market sentiment.
As the stock market continues to fluctuate and investors search for reliable information to inform their decisions, these research firm ratings and insider transactions offer insights into how industry professionals perceive Portland General Electric’s current standing and future potential. Ultimately, it is up to individual investors to scrutinize these findings alongside other relevant data points and conduct their due diligence before making any investment decisions.
Reference: Bloomberg – September 30, 2023
