KeyCorp Downgrades Portland General Electric (NYSE:POR) to Sector Weight

Portland General Electric (NYSE:POR) was downgraded by KeyCorp from an “overweight” rating to a “sector weight” rating in a research report issued on Wednesday, Marketbeat Ratings reports. They currently have a $51.00 price target on the utilities provider’s stock. KeyCorp’s target price suggests a potential upside of 20.82% from the stock’s current price. KeyCorp also issued estimates for Portland General Electric’s FY2025 earnings at $3.22 EPS.

Several other research firms have also commented on POR. BMO Capital Markets began coverage on shares of Portland General Electric in a research note on Tuesday. They set a “market perform” rating and a $46.00 price objective for the company. LADENBURG THALM/SH SH downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Tuesday, February 18th. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Friday, April 25th. Evercore ISI dropped their target price on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Finally, UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $47.00 to $50.00 in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.45.

Portland General Electric Trading Up 3.1%

NYSE POR opened at $42.21 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The firm has a market cap of $4.62 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. The company has a 50 day moving average price of $42.95 and a 200 day moving average price of $43.77. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $928.00 million for the quarter, compared to the consensus estimate of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 EPS. As a group, sell-side analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This represents a 4.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the company’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the sale, the executive vice president now directly owns 32,646 shares in the company, valued at $1,404,430.92. This trade represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,795 shares of company stock valued at $159,946 in the last ninety days. Insiders own 0.40% of the company’s stock.

Institutional Trading of Portland General Electric

Several large investors have recently made changes to their positions in POR. True Wealth Design LLC acquired a new position in shares of Portland General Electric in the 4th quarter valued at $27,000. Wayfinding Financial LLC acquired a new position in shares of Portland General Electric in the 1st quarter valued at $27,000. Private Trust Co. NA lifted its stake in shares of Portland General Electric by 62.6% in the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 244 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in shares of Portland General Electric in the 4th quarter valued at $29,000. Finally, Global X Japan Co. Ltd. lifted its stake in shares of Portland General Electric by 113.1% in the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 345 shares during the period.

About Portland General Electric

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.