Portland General Electric Co. (NYSE: POR) shares rose on Friday January 20 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.
Meanwhile, U.S. stocks rose Friday morning as Wall Street closely awaited Donald Trump’s inauguration as the nation’s 45th president.
The Dow Jones Industrial Average DJIA, +0.41% rose 95 points, or 0.5%, to 19,826, while the S&P 500 index SPX, +0.41% climbed 11 points, or 0.5%, to 2,275 and the Nasdaq Composite COMP, +0.37% added 28 points, or 0.6%, to 5,571.
Portland General Electric Co. (NYSE: POR) had its price target increased by equities researchers at Barclays PLC from $0.00 to $41.00. The company currently has a rating of on the shares. The one-year price target of $42.36 is a decrease compared to the opening price of $43.48, that has caused a fair amount of other analysts to report on the stock in recent days. Looking back over the last year, Portland General Electric Co. stock has a high of $45.21.
Yesterday Portland General Electric Co. (NYSE: POR) shares last traded at $43.79, which represents an increase of $0.21 compared to the previous closing price. Opening at $43.48, they ranged from $43.45 and $43.84 throughout the day.
Portland General Electric Co. (NYSE: POR) now has a market cap of 3.89B.
Portland General Electric Co. (NYSE: POR) Average Daily Trading Volume
48,773 shares traded hands yesterday, 65 percent lower than the norm, out of a total float 88,526,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Portland General Electric Co. (NYSE: POR) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Portland General Electric Co. (NYSE: POR) have ranged from $36.59 – 45.21, and the stock now has a 50-day MA of $43.01 and 200-day MA of $42.81. Today’s last price is 3.14%% below the 52 week high of $45.21.
Earnings growth is a critical factor to research when buying stocks and investors look for companies that have been successful at growing their earnings by at least 25% over the past 3 years.
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