Portland General Electric (NYSE:POR) Holdings Increased by Allworth Financial LP

Allworth Financial LP grew its stake in shares of Portland General Electric (NYSE:POR) by 74.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 621 shares of the utilities provider’s stock after buying an additional 265 shares during the quarter. Allworth Financial LP’s holdings in Portland General Electric were worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in POR. State of Michigan Retirement System raised its position in shares of Portland General Electric by 2.1% during the 1st 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 in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Portland General Electric by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 126,987 shares of the utilities provider’s stock worth $5,333,000 after purchasing an additional 335 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Portland General Electric in the 1st quarter worth approximately $519,000. BNP Paribas Financial Markets raised its holdings in shares of Portland General Electric by 10.0% in the 1st quarter. BNP Paribas Financial Markets now owns 59,610 shares of the utilities provider’s stock worth $2,504,000 after purchasing an additional 5,428 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Portland General Electric by 9.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 32,433 shares of the utilities provider’s stock worth $1,362,000 after purchasing an additional 2,695 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently commented on POR. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Bank of America began coverage on shares of Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. Barclays dropped 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 report on Tuesday. Finally, Jefferies Financial Group assumed coverage on shares of Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.13.

Portland General Electric Price Performance

Shares of Portland General Electric stock opened at $46.10 on Friday. The firm has a fifty day simple moving average of $47.85 and a 200-day simple moving average of $45.61. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.85. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.21 and a beta of 0.59.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $882.66 million. During the same period in the prior year, the company earned $0.46 EPS. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts expect that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Dividend Announcement

The business 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. This represents a $2.00 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is currently 59.70%.

Insiders Place Their Bets

In other news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’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 transaction, the vice president now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’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 transaction, the vice president now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.