Market Analysts see Portland General Electric Company [POR] gaining to $52. Time to buy?

Portland General Electric Company [NYSE: POR] traded at a low on 10/26/22, posting a -0.20 loss after which it closed the day’ session at $44.59. The company report on October 26, 2022 that Portland General Electric Company Announces Pricing of a Public Offering of 10,100,000 Shares of Common Stock.

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Portland General Electric Company (NYSE: POR) (“PGE” or the “Company”), a fully integrated energy company, today announced that it has priced an underwritten public offering of 10,100,000 shares of its common stock, all of which are being offered in connection with the forward sale agreements described below, at a public offering price of $43.00 per share. The offering is expected to close on October 28, 2022, subject to satisfaction of the conditions to closing.

Barclays and J.P. Morgan are acting as the joint lead book-running managers for the offering. BofA Securities and Wells Fargo Securities are book-running managers and Guggenheim Securities, and Siebert Williams Shank are co-managers for the offering. In connection with the offering of shares of common stock, the Company entered into forward sale agreements with each of Barclays Bank PLC and JPMorgan Chase Bank, National Association (or affiliates thereof) (which the Company refers to as the “forward purchasers”), with respect to 10,100,000 shares of the Company’s common stock.

The results of the trading session contributed to over 4712247 shares changing hands. Over the past one week, the price volatility of Portland General Electric Company stands at 2.70% while the volatility over the past one month is 3.01%.

The market cap for POR stock reached $3.89 billion, with 89.22 million shares outstanding and 88.80 million shares in the current float. Compared to the average trading volume of 774.10K shares, POR reached a trading volume of 4712247 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Portland General Electric Company [POR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for POR shares is $51.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on POR stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Portland General Electric Company shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 01, 2022. While these analysts kept the previous recommendation, Mizuho dropped their target price from $56 to $50. The new note on the price target was released on June 28, 2022, representing the official price target for Portland General Electric Company stock. Previously, the target price had yet another raise from $49 to $52, while Goldman kept a Buy rating on POR stock.

The Average True Range (ATR) for Portland General Electric Company is set at 1.41, with the Price to Sales ratio for POR stock in the period of the last 12 months amounting to 1.58. The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 1.43.

How has POR stock performed recently?

Portland General Electric Company [POR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.99. With this latest performance, POR shares dropped by -4.70% in over the last four-week period, additionally sinking by -13.59% over the last 6 months – not to mention a drop of -7.45% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for POR stock in for the last two-week period is set at 46.45, with the RSI for the last a single of trading hit 52.52, and the three-weeks RSI is set at 43.99 for Portland General Electric Company [POR]. The present Moving Average for the last 50 days of trading for this stock 48.50, while it was recorded at 43.93 for the last single week of trading, and 50.43 for the last 200 days.

Portland General Electric Company [POR]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Portland General Electric Company [POR] shares currently have an operating margin of +2.14 and a Gross Margin at +22.80. Portland General Electric Company’s Net Margin is presently recorded at +10.46.

Return on Equity for this stock inclined to 9.17, with Return on Assets sitting at 2.56.

Portland General Electric Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.90.

Earnings analysis for Portland General Electric Company [POR]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for POR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Portland General Electric Company go to 2.89%.

Insider trade positions for Portland General Electric Company [POR]

There are presently around $3,990 million, in the hands of institutional investors. The top three institutional holders of POR stocks are: BLACKROCK INC. with ownership of 11,982,490, which is approximately 53.594% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 10,419,803 shares of the stock with an approximate value of $464.62 million in POR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $250.71 million in POR stock with ownership of nearly -7.342% of the company’s market capitalization.

Positions in Portland General Electric Company stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 188 institutional holders increased their position in Portland General Electric Company [NYSE:POR] by around 13,768,910 shares. Additionally, 160 investors decreased positions by around 7,586,092 shares, while 56 investors held positions by with 68,122,070 shares. The mentioned changes placed institutional holdings at 89,477,072 shares, according to the latest SEC report filing. POR stock had 53 new institutional investments in for a total of 2,136,974 shares, while 44 institutional investors sold positions of 896,646 shares during the same period.


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