Sanctuary Advisors LLC Raises Stock Holdings in Portland General Electric (NYSE:POR)

Sanctuary Advisors LLC raised its position in shares of Portland General Electric (NYSE:POR) by 53.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,254 shares of the utilities provider’s stock after buying an additional 4,936 shares during the period. Sanctuary Advisors LLC’s holdings in Portland General Electric were worth $678,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of Portland General Electric during the third quarter valued at approximately $25,000. Allworth Financial LP boosted 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 valued at $30,000 after acquiring an additional 265 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Portland General Electric during the 2nd quarter valued at $33,000. Quest Partners LLC bought a new position in Portland General Electric in the 2nd quarter worth $40,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Portland General Electric in the 2nd quarter worth about $66,000.

Portland General Electric Trading Down 1.0 %

NYSE POR opened at $43.77 on Wednesday. Portland General Electric has a 12 month low of $39.13 and a 12 month 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’s fifty day moving average price is $46.81 and its 200-day moving average price is $46.32. The stock has a market cap of $4.62 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.13 and a beta of 0.59.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. The company had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. Portland General Electric’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. As a group, equities analysts forecast that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.57%. Portland General Electric’s payout ratio is currently 59.70%.

Analysts Set New Price Targets

POR has been the topic of several research analyst reports. Bank of America reduced their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. increased 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. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI started coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective for the company. Finally, 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, October 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $48.63.

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.