Guggenheim analyst Shahriar Pourreza reiterated a Hold rating on Portland GE (POR) yesterday and set a price target of $44. The company’s shares closed yesterday at $44.43.
According to TipRanks.com, Pourreza is a top 100 analyst with an average return of 13.0% and a 80.2% success rate. Pourreza covers the Utilities sector, focusing on stocks such as Newjersey Resources Corp, American Electric Power, and Edison International.
Portland GE has an analyst consensus of Strong Sell, with a price target consensus of $42.67.
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Based on Portland GE’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $496 million and net profit of $53 million. In comparison, last year the company earned revenue of $515 million and had a net profit of $42 million.
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Portland General Electric Co. is a vertically integrated electric utility company, which engages in the generation, purchase, transmission, distribution, and retail of electricity. The fim sells electricity and natural gas in the wholesale market to utilities, brokers, and power marketers. It also serves residential, commercial, and non-residential customers.
