767 Shares in Portland General Electric (NYSE:POR) Bought by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC purchased a new position in Portland General Electric (NYSE:POR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 767 shares of the utilities provider’s stock, valued at approximately $33,000.

Several other hedge funds have also bought and sold shares of POR. New York State Teachers Retirement System boosted its holdings in shares of Portland General Electric by 1.3% in the 1st quarter. New York State Teachers Retirement System now owns 24,061 shares of the utilities provider’s stock worth $1,011,000 after purchasing an additional 300 shares during the period. Retirement Systems of Alabama lifted its position in Portland General Electric by 0.3% in the first quarter. Retirement Systems of Alabama now owns 126,987 shares of the utilities provider’s stock worth $5,333,000 after buying an additional 335 shares during the last quarter. Blue Trust Inc. lifted its position in Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock worth $39,000 after buying an additional 451 shares during the last quarter. State of Michigan Retirement System lifted its position in Portland General Electric by 2.1% in the first quarter. State of Michigan Retirement System now owns 24,800 shares of the utilities provider’s stock worth $1,042,000 after buying an additional 500 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in Portland General Electric by 767.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after buying an additional 514 shares during the last quarter.

Portland General Electric Trading Up 1.0 %

Portland General Electric stock opened at $49.09 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. Portland General Electric has a 52 week low of $38.01 and a 52 week high of $49.26. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 18.81 and a beta of 0.59. The stock has a 50-day moving average price of $47.02 and a 200 day moving average price of $44.16.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The company had revenue of $758.00 million during the quarter, compared to the consensus estimate of $716.43 million. During the same period in the previous year, the company posted $0.44 earnings per share. Portland General Electric’s revenue for the quarter was up 17.0% on a year-over-year basis. Sell-side analysts anticipate that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s payout ratio is 76.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on POR shares. Barclays raised their price target on Portland General Electric from $44.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Finally, Bank of America initiated coverage on Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and a consensus target price of $45.43.

Insider Transactions at Portland General Electric

In other news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The sale was disclosed in a filing with the SEC, which is available at this link. 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 transaction, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at $1,446,816. The disclosure for this sale can be found here. Insiders sold a total of 5,486 shares of company stock valued at $262,153 in the last three months. 0.54% of the stock is currently owned by company insiders.

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.