Portland General Electric (NYSE:POR) Shares Bought by Quest Partners LLC

Quest Partners LLC grew its position in Portland General Electric (NYSE:POR) by 821.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,551 shares of the utilities provider’s stock after acquiring an additional 7,623 shares during the quarter. Quest Partners LLC’s holdings in Portland General Electric were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of POR. Massmutual Trust Co. FSB ADV raised its position in 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 valued at $25,000 after purchasing an additional 514 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Portland General Electric in the third quarter valued at about $25,000. LRI Investments LLC acquired a new stake in shares of Portland General Electric during the first quarter worth about $26,000. Allworth Financial LP grew its holdings in shares of Portland General Electric by 74.4% during 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 2nd quarter valued at about $33,000.

Portland General Electric Stock Down 0.1 %

Shares of NYSE POR opened at $47.57 on Monday. 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 has a 50-day moving average price of $47.45 and a 200 day moving average price of $46.06. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.59.

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

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is currently 59.70%.

Analyst Upgrades and Downgrades

POR has been the topic of several analyst reports. Jefferies Financial Group started coverage on Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 target price on the stock. Bank of America assumed coverage on Portland General Electric in a report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target for the company. 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 price objective on the stock. Barclays reduced their target price on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.86.

Insider Transactions at Portland General Electric

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $688,902.90. This trade represents a 14.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric 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.