KeyCorp's Earnings Forecast for Portland General Electric in FY2025

On December 3rd, 2024, analysts at KeyCorp revised their earnings predictions for Portland General Electric (NYSE:POR). Analyst S. Karp now anticipates that the utility firm will report earnings of $3.20 per share for fiscal year 2025, a slight decrease from the previous estimate of $3.21. KeyCorp maintains an "Overweight" rating on the stock, along with a price target of $51.00. In comparison, the consensus among analysts is that Portland General Electric will achieve earnings of $3.12 per share in the current fiscal year.

Portland General Electric has been evaluated by various other financial institutions recently. For example, on September 12th, Bank of America initiated coverage with an "underperform" rating and set a target price of $47.00. Later, on September 25th, Evercore ISI began its coverage with an "outperform" rating and a target of $54.00. Additionally, Jefferies Financial Group initiated coverage on September 20th, assigning a "hold" rating with a target of $48.00. On October 23rd, JPMorgan Chase & Co. increased their target price from $54.00 to $55.00, maintaining an "overweight" rating. StockNews.com also upgraded the stock from a "sell" rating to a "hold" rating on September 24th. Currently, one analyst has rated the stock as a sell, while four have given a hold rating, and four have a buy recommendation. The average analyst rating stands at "Hold" with an average target price of $49.13 according to MarketBeat data.

Portland General Electric Stock Performance

As of Thursday, shares of NYSE POR opened at $46.01. The stock is currently trading below its 50-day moving average of $47.31 and its 200-day moving average of $46.23. Financial ratios indicate a current ratio of 0.98, a quick ratio of 0.86, and a debt-to-equity ratio of 1.28. Portland General Electric boasts a market capitalization of $4.85 billion, with a price-to-earnings ratio of 13.73 and a price-to-earnings-growth ratio of 1.20, while its beta value stands at 0.59. Over the past year, the stock has seen a low of $39.13 and a high of $49.85.

Recent Earnings Results

Portland General Electric recently released its quarterly earnings report on October 25th. The company reported earnings of $0.90 per share, exceeding analysts’ expectations of $0.89 by $0.01. The firm's net margin for the quarter was 10.30%, and it achieved a return on equity of 10.28%. The total revenue reported for the quarter was $929 million, surpassing the forecast of $882.66 million. This represents a significant year-over-year revenue increase of 15.8%, with earnings rising from $0.46 per share for the same period last year.

Dividend Announcement

Portland General Electric also declared a quarterly dividend, scheduled for payment on January 15th. Shareholders registered by December 24th will receive a dividend of $0.50 per share, which equates to an annualized dividend of $2.00 and a yield of 4.35%. The ex-dividend date for this payout is December 24th. The company's dividend payout ratio currently stands at 59.70%.

Insider Transactions

In related news, on September 10th, Senior Vice President Maria Angelica Espinosa sold 2,500 shares of the company's stock at an average price of $48.30, totaling $120,750. Following this transaction, Espinosa retains ownership of 14,263 shares valued at approximately $688,902.90. This sale represents a 14.91% decrease in her stake in the company. The details were disclosed in an SEC filing. Currently, insiders hold 0.54% of Portland General Electric's stock.

Institutional Investments

Several institutional investors have made recent changes to their holdings in Portland General Electric. Zimmer Partners LP significantly increased its stake by 107% during the third quarter, amassing 1,842,542 shares worth about $88.26 million after acquiring an additional 952,214 shares. In the second quarter, Vaughan Nelson Investment Management L.P. acquired a new position valued at $31.56 million. Similarly, Marshall Wace LLP increased its shareholding by 657%, now holding 314,688 shares valued around $13.61 million. Systematic Financial Management LP raised its position in the company by 83.4%, bringing their total to 424,701 shares valued at $18.36 million after acquiring 193,164 additional shares. Lastly, Point72 Asset Management L.P. added a new position worth $7.46 million during the same period.

About Portland General Electric

Portland General Electric Company is an integrated utility provider involved in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in Oregon. The company operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, it managed a transmission system comprising 1,254 circuit miles and serviced 934,000 retail customers across 51 cities in the state.

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