Raymond James & Associates Sells 71,520 Shares of Portland General Electric (NYSE:POR)

Raymond James & Associates lowered its holdings in shares of Portland General Electric (NYSE:POR) by 29.8% during the third quarter, Holdings Channel reports. The institutional investor owned 168,680 shares of the utilities provider’s stock after selling 71,520 shares during the quarter. Raymond James & Associates’ holdings in Portland General Electric were worth $8,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in Portland General Electric by 136.5% during the third quarter. Blue Trust Inc. now owns 2,195 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,267 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Portland General Electric during the third quarter worth $25,000. Trust Co. of Vermont boosted its stake in Portland General Electric by 17.5% during the third quarter. Trust Co. of Vermont now owns 8,071 shares of the utilities provider’s stock worth $387,000 after buying an additional 1,202 shares in the last quarter. nVerses Capital LLC acquired a new stake in Portland General Electric during the third quarter worth $321,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Portland General Electric during the third quarter worth $218,000.

Portland General Electric Stock Down 0.4 %

Shares of NYSE POR opened at $47.47 on Thursday. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.22 and a beta of 0.59. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.85. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The firm’s 50-day simple moving average is $47.85 and its 200 day simple moving average is $45.58.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 EPS. On average, research analysts expect that Portland General Electric will post 3.13 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.21%. Portland General Electric’s dividend payout ratio is currently 59.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays reduced their target price on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Tuesday. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Evercore ISI initiated coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price on the stock. Finally, KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and a consensus price target of $48.13.

Insiders Place Their Bets

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

About Portland General Electric

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.