58.com Downgrades Portland General Electric Shares
June 27, 2023
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On Tuesday morning, 58.com released a report in which they reaffirmed their downgrade rating on Portland General Electric ($NYSE:POR)’s shares. Portland General Electric Co. (NYSE: POR) is an electric power utility holding company headquartered in Portland, Oregon. The downgrade of Portland General Electric’s shares is primarily attributed to the uncertainty surrounding the company’s financials. The company’s move to reduce its dividend and its high debt-to-equity ratio are concerning factors for 58.com.
Additionally, the company’s declining net income and rising operating costs have been an ongoing issue that 58.com analysts cite as evidence of their downgrade decision. Despite the recent downgrade, Portland General Electric remains a solid player in the energy market. With investments in renewable energy and a commitment to providing reliable and affordable energy in the Pacific Northwest, the company remains committed to providing quality service to its customers. Moving forward, investors hope that the company will address the issues raised by 58.com and make improvements to its financials.
Price History
On Monday, shares of Portland General Electric (PGE) were downgraded by 58.com, following the opening of the stock at $46.2 and closing at $47.0, a 2.1% increase from the previous day’s closing price of $46.0. The downgrade has resulted in investors becoming more cautious about PGE stock, given the company’s relatively weak financial performance and outlook. There is also uncertainty surrounding Oregon’s new clean energy laws, which could have a negative impact on the company’s bottom line. Nevertheless, PGE has continued to show an impressive commitment to renewable energy, and the company remains optimistic about its future prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for POR. More…
| Total Revenues | Net Income | Net Margin |
| 2.77k | 247 | 8.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for POR. More…
| Operations | Investing | Financing |
| 386 | -880 | 396 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for POR. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 10.15k | 7.04k | 31.13 |
Key Ratios Snapshot
Some of the financial key ratios for POR are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.3% | 2.9% | 16.3% |
| FCF Margin | ROE | ROA |
| -17.6% | 9.6% | 2.8% |
Analysis
At GoodWhale, we’ve conducted an analysis of PORTLAND GENERAL ELECTRIC’s financials to provide our users with a better understanding of the company’s financial stability. After assessing the company’s balance sheet, we’ve concluded that PORTLAND GENERAL ELECTRIC is a low risk investment when it comes to financial and business aspects. However, our analysis did uncover one risk warning in the balance sheet. To review this warning in detail, users must become a registered member on our site. We encourage all of our users to take advantage of this resource to make more informed decisions regarding investments. More…
Peers
In the electric power industry, competition is fierce between companies vying for market share. Portland General Electric (PGE) is no exception, facing stiff competition from WEC Energy Group, PNM Resources, and Korea Electric Power Corp. PGE has managed to stay ahead of the pack by offering competitive prices, reliable service, and a commitment to clean energy.
– WEC Energy Group Inc ($NYSE:WEC)
WEC Energy Group Inc is a diversified energy company with operations in electric and natural gas utilities, and non-utility energy businesses. The company’s electric and natural gas utilities include Wisconsin Electric, Wisconsin Gas, Peoples Gas, North Shore Gas, We Energies and Wisconsin Public Service. The company’s non-utility operations include We Power, Wispark LLC, Integrys Energy Services, Inc., and other investments.
– PNM Resources Inc ($NYSE:PNM)
PNM Resources Inc is a diversified energy holding company based in Albuquerque, New Mexico. The company operates two electric utilities, PNM and TNMP, which serve customers in New Mexico and Texas. PNM Resources also owns a natural gas utility, Texas-New Mexico Utilities, which serves customers in West Texas. In addition to its utilities business, the company owns an energy trading and marketing business, RRI Energy, and an energy services business, PNM Resources Services.
– Korea Electric Power Corp ($KOSE:015760)
Korea Electric Power Corp (KEPCO) is a South Korean electric utility company with a market capitalization of 10.75 trillion as of 2022. The company has a return on equity of -21.37%. KEPCO is involved in the generation, transmission, and distribution of electricity in South Korea. The company also has interests in nuclear power, new and renewable energy, and other businesses.
Summary
Investment analysts at 58.com have downgraded their rating on Portland General Electric (PGE) in a recent report. PGE has been a long-time pillar of Oregon’s economy and energy landscape, but its recent performance has failed to meet expectations. The analysts noted that the company’s current financials do not appear to support the prevailing share price and recommend investors to proceed with caution.
They highlighted how other factors such as the increased competition in the market, and changing regulatory environment could adversely affect PGE’s future performance. Furthermore, they suggested that investors should reconsider their investments in PGE and conduct a thorough analysis before making any decisions.
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