Portland General Electric (NYSE:POR) Reaches New 1-Year High – Here’s Why

Portland General Electric Company (NYSE:POR) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $51.71 and last traded at $51.6550, with a volume of 816484 shares changing hands. The stock had previously closed at $51.26.

Analyst Ratings Changes

Several research firms have recently commented on POR. BTIG Research reissued a “buy” rating and issued a $58.00 target price on shares of Portland General Electric in a report on Friday, January 30th. Barclays lifted their price target on shares of Portland General Electric from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Wells Fargo & Company boosted their price target on shares of Portland General Electric from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Portland General Electric in a report on Monday, December 29th. Finally, LADENBURG THALM/SH SH restated a “sell” rating and set a $43.00 price objective on shares of Portland General Electric in a research report on Thursday, December 4th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.42.

Portland General Electric Stock Up 0.8%

The firm has a market capitalization of $5.81 billion, a PE ratio of 18.78, a PEG ratio of 4.43 and a beta of 0.67. The business’s 50 day simple moving average is $49.05 and its 200 day simple moving average is $46.17. The company has a current ratio of 1.08, a quick ratio of 0.95 and a debt-to-equity ratio of 1.25.

Hedge Funds Weigh In On Portland General Electric

Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in Portland General Electric during the 4th quarter valued at $25,000. Private Trust Co. NA boosted its stake in Portland General Electric by 76.4% during the fourth quarter. Private Trust Co. NA now owns 552 shares of the utilities provider’s stock worth $26,000 after buying an additional 239 shares during the period. Johnson Financial Group Inc. bought a new position in Portland General Electric during the third quarter valued at $27,000. Rothschild Investment LLC increased its position in Portland General Electric by 112.9% during the fourth quarter. Rothschild Investment LLC now owns 611 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 324 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of Portland General Electric in the third quarter valued at $27,000.

About Portland General Electric

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.