KeyCorp Upgrades Portland General Electric to Buy (POR)
Portland General Electric (NYSE:POR) was upgraded by KeyCorp from a “hold” rating to a “buy” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on POR. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Portland General Electric (NYSE:POR) in a research note to investors on Monday, August 5th. They now have a $32.00 price target on the stock. Separately, analysts at DA Davidson downgraded shares of Portland General Electric (NYSE:POR) from a “buy” rating to a “neutral” rating in a research note to investors on Monday, August 5th. They now have a $33.00 price target on the stock, down previously from $35.00. They noted that the move was a valuation call.
Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $32.50.
Shares of Portland General Electric (NYSE:POR) opened at 27.77 on Thursday. Portland General Electric has a 52 week low of $24.86 and a 52 week high of $33.26. The stock’s 50-day moving average is $29.70 and its 200-day moving average is $30.56. The company has a market cap of $2.148 billion and a price-to-earnings ratio of 22.60.
Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($0.29) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.35 by $0.64. The company had revenue of $403.00 million for the quarter, compared to the consensus estimate of $357.47 million. During the same quarter last year, the company posted $0.34 earnings per share. Portland General Electric’s revenue was down 2.4% compared to the same quarter last year. On average, analysts predict that Portland General Electric will post $1.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Stockholders of record on Wednesday, September 25th will be paid a dividend of $0.28 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Monday, September 23rd.
Portland General Electric Company (NYSE:POR) is a vertically integrated electric utility engaged in the generation, purchase, transmission, distribution and retail sale of electricity in the state of Oregon.
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