Cibc World Markets Corp Makes New Investment in Portland General Electric (NYSE:POR)

Cibc World Markets Corp bought a new stake in Portland General Electric (NYSE:POR) during the 4th quarter, HoldingsChannel.com reports. The firm bought 9,736 shares of the utilities provider’s stock, valued at approximately $425,000.

Several other hedge funds and other institutional investors have also made changes to their positions in POR. Swiss National Bank lifted its position in shares of Portland General Electric by 1.0% in the third quarter. Swiss National Bank now owns 201,200 shares of the utilities provider’s stock valued at $9,637,000 after acquiring an additional 2,000 shares in the last quarter. Quest Partners LLC lifted its position in shares of Portland General Electric by 821.4% in the third quarter. Quest Partners LLC now owns 8,551 shares of the utilities provider’s stock valued at $410,000 after acquiring an additional 7,623 shares in the last quarter. Pathstone Holdings LLC increased its holdings in shares of Portland General Electric by 12.2% in the third quarter. Pathstone Holdings LLC now owns 29,632 shares of the utilities provider’s stock valued at $1,421,000 after purchasing an additional 3,232 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Portland General Electric in the third quarter valued at approximately $1,539,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Portland General Electric by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock valued at $61,219,000 after purchasing an additional 13,720 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Tuesday, February 18th. Bank of America cut their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. KeyCorp cut their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Evercore ISI raised their target price on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group cut their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Portland General Electric has an average rating of “Hold” and a consensus price target of $47.00.

Portland General Electric Trading Down 1.4 %

Shares of NYSE POR opened at $43.73 on Monday. The stock has a market capitalization of $4.79 billion, a PE ratio of 14.53, a PEG ratio of 1.11 and a beta of 0.55. The stock has a fifty day simple moving average of $42.80 and a 200-day simple moving average of $45.18. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $824.00 million during the quarter, compared to analyst estimates of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same period last year, the business posted $0.67 earnings per share. On average, equities analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.57%. Portland General Electric’s dividend payout ratio (DPR) is presently 66.45%.

Insider Activity at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.40% of the stock is currently owned by company insiders.

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.