KeyCorp Upgrades Portland General Electric (NYSE:POR) to “Overweight”

KeyCorp upgraded shares of Portland General Electric (NYSE:POR) from a sector weight rating to an overweight rating in a research note released on Monday, MarketBeat reports. KeyCorp also issued estimates for Portland General Electric’s Q4 2024 earnings at $0.61 EPS and FY2028 earnings at $3.68 EPS.

Other equities research analysts have also issued research reports about the stock. Mizuho upped their price target on shares of Portland General Electric from $42.00 to $45.00 and gave the company a neutral rating in a research report on Thursday, May 16th. StockNews.com raised shares of Portland General Electric from a sell rating to a hold rating in a research report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $44.86.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $47.87 on Monday. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 18.34 and a beta of 0.58. The firm’s 50-day moving average is $43.91 and its 200 day moving average is $42.45. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $49.72. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.22 and a quick ratio of 1.09.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.12. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $828.94 million. During the same quarter in the previous year, the firm earned $0.80 EPS. Portland General Electric’s revenue was up 24.2% on a year-over-year basis. Sell-side analysts anticipate that Portland General Electric will post 3.09 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.18%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is 76.63%.

Insider Buying and Selling

In related news, COO Benjamin Felton sold 1,886 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the completion of the sale, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total value of $88,600.00. Following the completion of the transaction, the senior vice president now directly owns 16,763 shares in the company, valued at approximately $742,600.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total value of $90,528.00. Following the completion of the transaction, the chief operating officer now owns 30,142 shares of the company’s stock, valued at $1,446,816. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,849 shares of company stock valued at $222,492. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in POR. Johnson Financial Group Inc. bought a new position in shares of Portland General Electric during the 4th quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Portland General Electric by 767.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 514 shares during the last quarter. LRI Investments LLC purchased a new stake in Portland General Electric during the 1st quarter valued at $26,000. Fifth Third Bancorp raised its holdings in Portland General Electric by 181.8% during the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock valued at $27,000 after buying an additional 409 shares during the period. Finally, BKM Wealth Management LLC purchased a new stake in Portland General Electric in the fourth quarter worth $33,000.

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.