Portland General Electric (POR) Downgraded at UBS

Portland General Electric Company (NYSE:POR) is included among the 14 Best Utility Dividend Stocks to Buy Now.

Portland General Electric Company (NYSE:POR) is an integrated electric utility company, engaged in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon.

On November 19, Portland General Electric Company (NYSE:POR) was downgraded by UBS from ‘Buy’ to ‘Neutral’, while its price target remained unchanged at $51, according to a report by The Fly. With POR posting gains of almost 20% over the last six months, the firm cited valuation for the downgrade. Moreover, the analyst highlighted that the  Oregon Public Utility Commission approval catalyst is seven months away in June next year.

In other news, Portland General Electric Company (NYSE:POR) reported an earnings beat in its third quarter recently, primarily due to the booming demand from data centers. However, the company’s revenue of $952 million fell just short of estimates by almost $32 million, despite a YoY growth of around 2.5%. Notably, the utility reported a 13% surge in industrial demand during the quarter, led by data centers and semiconductor manufacturers.

Portland General Electric Company (NYSE:POR) kept its FY 2025 adjusted earnings guidance steady at $3.13 to $3.33 per share. Moreover, the company reaffirmed its long-term EPS and dividend growth guidance of 5% to 7%, and its long-term growth guidance of 3% through 2029.

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Disclosure: None.