Barclays Reiterates an 'Equalweight' on Portland General Electric (POR); Light Q2 - 2011 Guidance Affirmed
POR Hot Sheet
Rating Summary:4 Buy, 1 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 82
Barclays reiterates an 'Equalweight' on Portland General Electric Company (NYSE: POR), lowers price target from $27 to $25.
Barclays analyst says, "POR affirmed 2011 full year EPS guidance of $1.90 - $2.05: We maintain our '11/'12/'13E of $2.00/$1.92/$2.07, respectively. We note the potential for incremental capital expenditures in light of POR's integrated resource plan and pending projects."
"POR has indicated its next rate case may not come until 2013 (2014 test year with new rates in effect in 2014): We believe that given this company's historic challenges to earn its allowed ROE (10%), and in consideration of the planned infrastructure build plan, earnings growth may prove to be challenging unless the rate case plan be accelerated. Our current '13E embeds a 2012 GRC with new rates in place January 2013."
For more ratings news on Portland General Electric Company click here and for the rating history of Portland General Electric Company click here.
Shares of Portland General Electric Company closed at $23.22 yesterday, with a 52 week range of $19.31-$26.05.
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Barclays analyst says, "POR affirmed 2011 full year EPS guidance of $1.90 - $2.05: We maintain our '11/'12/'13E of $2.00/$1.92/$2.07, respectively. We note the potential for incremental capital expenditures in light of POR's integrated resource plan and pending projects."
"POR has indicated its next rate case may not come until 2013 (2014 test year with new rates in effect in 2014): We believe that given this company's historic challenges to earn its allowed ROE (10%), and in consideration of the planned infrastructure build plan, earnings growth may prove to be challenging unless the rate case plan be accelerated. Our current '13E embeds a 2012 GRC with new rates in place January 2013."
For more ratings news on Portland General Electric Company click here and for the rating history of Portland General Electric Company click here.
Shares of Portland General Electric Company closed at $23.22 yesterday, with a 52 week range of $19.31-$26.05.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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