JPMorgan Chase & Co. Sells 184,042 Shares of Portland General Electric (NYSE:POR)

JPMorgan Chase & Co. trimmed its holdings in Portland General Electric (NYSE:POR) by 5.4% during the third quarter, Holdings Channel reports. The institutional investor owned 3,239,490 shares of the utilities provider’s stock after selling 184,042 shares during the quarter. JPMorgan Chase & Co.’s holdings in Portland General Electric were worth $155,172,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in POR. V Square Quantitative Management LLC acquired a new stake in shares of Portland General Electric in the 3rd quarter worth about $25,000. Allworth Financial LP boosted its stake in Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 265 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Portland General Electric during the 2nd quarter worth approximately $33,000. Quest Partners LLC purchased a new stake in shares of Portland General Electric in the second quarter worth approximately $40,000. Finally, Quarry LP lifted its holdings in shares of Portland General Electric by 962.3% in the second quarter. Quarry LP now owns 1,636 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 1,482 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. KeyCorp lowered their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Bank of America cut 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 report on Tuesday, December 24th. Evercore ISI assumed 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 for the company. Finally, Jefferies Financial Group initiated 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and a consensus price target of $48.63.

Portland General Electric Stock Performance

Shares of POR stock opened at $43.62 on Wednesday. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The firm’s 50-day simple moving average is $46.24 and its two-hundred day simple moving average is $46.35. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 1.13 and a beta of 0.59. 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 (NYSE:POR) last posted 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. 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 the consensus estimate of $882.66 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. Portland General Electric’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities analysts forecast that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Announces Dividend

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. This represents a $2.00 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) 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.