US Bancorp DE Has $916,000 Stake in Portland General Electric (NYSE:POR)

US Bancorp DE grew its holdings in Portland General Electric (NYSE:POR) by 18.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,118 shares of the utilities provider’s stock after purchasing an additional 2,984 shares during the period. US Bancorp DE’s holdings in Portland General Electric were worth $916,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its holdings 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. V Square Quantitative Management LLC acquired a new position in Portland General Electric in the third quarter worth approximately $25,000. LRI Investments LLC acquired a new position in Portland General Electric in the first quarter worth approximately $26,000. Allworth Financial LP increased its holdings in Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after buying an additional 265 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Portland General Electric in the second quarter worth approximately $33,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on POR shares. Jefferies Financial Group started coverage on Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective on the stock. Evercore ISI initiated coverage on Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price for the company. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. 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. Finally, JPMorgan Chase & Co. upped their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $48.13.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the 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 transaction, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Stock Up 1.1 %

POR opened at $47.02 on Friday. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.85. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 1.20 and a beta of 0.59. The business has a 50 day moving average of $47.71 and a 200-day moving average of $45.81.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. The company 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%. Portland General Electric’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. As a group, sell-side analysts anticipate 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 paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.25%. Portland General Electric’s dividend payout ratio is currently 59.70%.

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.