Portland General Electric (NYSE:POR) Lowered to Sector Weight Rating by KeyCorp

Portland General Electric (NYSE:POR - Get Free Report) was downgraded by investment analysts at KeyCorp from an "overweight" rating to a "sector weight" rating in a research note issued on Wednesday, Marketbeat Ratings reports. They presently have a $51.00 target price on the utilities provider's stock. KeyCorp's target price would suggest a potential upside of 22.71% from the stock's previous close.

A number of other equities research analysts also recently weighed in on POR. Wells Fargo & Company reduced their price target on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research report on Tuesday, February 18th. Barclays lowered their target price on shares of Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and lifted their target price for the company 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $45.45.

Portland General Electric Stock Performance

NYSE:POR opened at $41.56 on Wednesday. The firm has a market capitalization of $4.55 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The firm has a 50-day moving average price of $43.12 and a 200 day moving average price of $43.85.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The business had revenue of $928.00 million for the quarter, compared to analyst estimates 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 for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 EPS. Research analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Portland General Electric

In other news, EVP Benjamin Felton sold 1,845 shares of Portland General Electric stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following the transaction, the executive vice president now owns 32,646 shares of the company's stock, valued at $1,404,430.92. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief financial officer now owns 31,960 shares of the company's stock, valued at $1,320,587.20. The trade was a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,795 shares of company stock worth $159,946. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in POR. Synergy Asset Management LLC boosted its holdings in Portland General Electric by 260.6% during the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock worth $5,096,000 after purchasing an additional 82,743 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of Portland General Electric by 13.2% during the 4th quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider's stock valued at $258,000 after purchasing an additional 692 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Portland General Electric by 3.7% during the fourth quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider's stock valued at $6,166,000 after purchasing an additional 5,084 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Portland General Electric by 1.3% during the fourth quarter. Natixis Advisors LLC now owns 322,686 shares of the utilities provider's stock valued at $14,076,000 after acquiring an additional 4,195 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Portland General Electric by 11.6% in the fourth quarter. Van ECK Associates Corp now owns 93,330 shares of the utilities provider's stock worth $4,071,000 after acquiring an additional 9,715 shares during the period.

Portland General Electric Company Profile

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.

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