The stock of Portland General Electric Company (NYSE:POR) is now priced at $38.45 and the shares are -3.51 points down or -8.37% lower compared to its previous closing price of $41.96. The stock had 4.98 million contracts set over the past session. POR shares’ daily volume is compared to its average trading volume at 638085 shares. However, it has a float of 89.1 million and although its performance was -8.41% over the week, it’s one to watch. Analysts have given the POR stock a yearly average price target of $45.4 per share. It means the stock’s upside potential is 18.08% with the POR share price recently placing at $36 to $38.65. However, some brokerage firms have priced the stock below the average, including one that has called $40.
The shorts are running away from the Portland General Electric Company stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the POR shares have declined. Short interest in the stock represents just 1.94% of its float, but the volume has dropped by 0.
In the last trading session, Portland General Electric Company (NYSE:POR) dropped by -$3.53 over the week and lost -$5.16 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $63.08. The stock recorded its established 52-week high on 02/21/20.
Since 08/25/20, the stock has traded to a low of $36 at 1.64%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.29. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Portland General Electric Company’s two-week RSI is 31.38. This suggests that the stock is neutral at the moment and that POR shares’ price movement remains stable. The stochastic readings are equally revealing at 31.27% meaning the POR share price is currently in neutral territory.
The technical chart shows that the POR stock will likely settle at between $39.4 and $40.35 per share. However, if the stock dips below $36.75, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $35.05.
Currently, the stock is trading in the red of MACD, with a reading of -0.91. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at BofA Securities cut their recommendation for POR from Buy to Neutral in August 25 review while maintai their target price of $41. Wolfe Research analysts upgraded their recommendation of the stock from Underperform to Peer Perform in a flash note released to investors on July 17. Mizuho seeing the stock struggling downgraded it from Buy to Neutral on May 12 placing it at $47 to $44.50.
The average rating for the POR equity is 3.18 and is currently gathering a bearish momentum. Of 11 analysts tracking Portland General Electric Company polled by Reuters, 8 rated POR as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the POR stock price is 14.9X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 14.6 below the group’s average of 30.4. Portland General Electric Company has its P/E ratio at 1.3, which means that the stock is currently trading at a discount relative to the 1.7 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Portland General Electric Company (NYSE:POR) will decrease by about -99.89%, which will see them reach $524 million. The company’s full-year revenues are, however, expected to diminish by about -0.94%, down from $2120 million to $2100 million. POR’s expected adjusted earnings should drop almost -16.39% to end up at $0.51 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 0% to record $2.39/share.