Portland General Electric (NYSE:POR) Sets New 12-Month High – Time to Buy?

Portland General Electric Company (NYSE:POR) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $51.15 and last traded at $50.9640, with a volume of 399304 shares trading hands. The stock had previously closed at $50.11.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. LADENBURG THALM/SH SH reiterated a “sell” rating and issued a $43.00 price target on shares of Portland General Electric in a research note on Thursday, December 4th. BTIG Research restated a “buy” rating and issued a $58.00 target price on shares of Portland General Electric in a report on Friday. UBS Group dropped their target price on shares of Portland General Electric from $51.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Portland General Electric in a research note on Monday, December 29th. Finally, Loop Capital set a $48.00 price target on Portland General Electric in a report on Tuesday, December 30th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Portland General Electric currently has an average rating of “Hold” and an average target price of $48.42.

Portland General Electric Stock Performance

The business’s fifty day moving average is $49.00 and its 200-day moving average is $45.74. The company has a quick ratio of 0.95, a current ratio of 1.08 and a debt-to-equity ratio of 1.25. The company has a market cap of $5.73 billion, a PE ratio of 18.51, a P/E/G ratio of 4.40 and a beta of 0.67.

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

Hedge Funds Weigh In On Portland General Electric

A number of institutional investors have recently bought and sold shares of the stock. Ballentine Partners LLC lifted its position in Portland General Electric by 19.1% during the fourth quarter. Ballentine Partners LLC now owns 9,074 shares of the utilities provider’s stock valued at $435,000 after purchasing an additional 1,458 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Portland General Electric by 30.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 22,865 shares of the utilities provider’s stock worth $1,097,000 after buying an additional 5,334 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Portland General Electric by 3.9% in the fourth quarter. Benjamin Edwards Inc. now owns 20,178 shares of the utilities provider’s stock worth $969,000 after buying an additional 758 shares during the period. Strs Ohio lifted its position in shares of Portland General Electric by 287.3% during the 4th quarter. Strs Ohio now owns 30,600 shares of the utilities provider’s stock valued at $1,468,000 after buying an additional 22,700 shares in the last quarter. Finally, Composition Wealth LLC purchased a new position in shares of Portland General Electric during the 4th quarter valued at about $240,000.

Portland General Electric Company Profile

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.