Advisors Asset Management Inc. Sells 2,684 Shares of Portland General Electric (NYSE:POR)

Advisors Asset Management Inc. decreased its holdings in shares of Portland General Electric (NYSE:POR) by 15.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,581 shares of the utilities provider’s stock after selling 2,684 shares during the quarter. Advisors Asset Management Inc.’s holdings in Portland General Electric were worth $698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted 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. First Pacific Financial raised its stake in Portland General Electric by 2.9% during the 3rd quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock valued at $591,000 after purchasing an additional 347 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Portland General Electric by 20.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 413 shares during the period. Blue Trust Inc. grew its position in Portland General Electric by 94.5% in the 2nd quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 451 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Portland General Electric by 767.2% during 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.

Portland General Electric Stock Down 0.7 %

Shares of NYSE:POR opened at $47.71 on Wednesday. The company’s fifty day moving average is $47.43 and its 200-day moving average is $46.10. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The company has a market capitalization of $5.03 billion, a PE ratio of 14.36, a P/E/G ratio of 1.21 and a beta of 0.59.

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. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. Equities research analysts predict that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be given a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.19%. Portland General Electric’s payout ratio is 59.70%.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value 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 approximately $688,902.90. The trade was a 14.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

POR has been the subject of several research reports. 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. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI initiated coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. Bank of America initiated coverage on shares of Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target on the stock. Finally, Jefferies Financial Group began coverage on shares of Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $48.86.

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.