12,421 Shares in Portland General Electric (NYSE:POR) Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC purchased a new position in Portland General Electric (NYSE:POR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,421 shares of the utilities provider’s stock, valued at approximately $595,000.

A number of other hedge funds also recently modified their holdings of POR. Massmutual Trust Co. FSB ADV raised its holdings in shares of Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 514 shares during the period. V Square Quantitative Management LLC purchased a new position in Portland General Electric in the 3rd quarter valued at approximately $25,000. LRI Investments LLC purchased a new position in Portland General Electric in the 1st quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new position in Portland General Electric in the 2nd quarter valued at approximately $33,000. Finally, Blue Trust Inc. grew its stake in Portland General Electric by 94.5% in the 2nd quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after buying an additional 451 shares in the last quarter.

Portland General Electric Stock Down 2.7 %

POR opened at $46.10 on Friday. The company has a fifty day moving average price of $47.85 and a 200-day moving average price of $45.61. The firm has a market capitalization of $4.86 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 1.21 and a beta of 0.59. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. Portland General Electric has a one year low of $39.13 and a one year high of $49.85.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. During the same period in the previous year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts expect that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.34%. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on POR shares. Evercore ISI started coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective for the company. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Jefferies Financial Group started coverage on shares of Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.13.

Insider Buying and Selling

In related news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction on 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 transaction, the vice president now directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction on 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 transaction, the vice president now directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

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.