Sanctuary Advisors LLC Acquires Shares of 9,318 Portland General Electric (NYSE:POR)

Sanctuary Advisors LLC acquired a new stake in Portland General Electric (NYSE:POR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,318 shares of the utilities provider’s stock, valued at approximately $399,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its stake in Portland General Electric by 767.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 514 shares during the last quarter. LRI Investments LLC bought a new position in Portland General Electric in the first quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new position in Portland General Electric in the second quarter valued at approximately $33,000. Mather Group LLC. acquired a new stake in Portland General Electric in the first quarter worth $34,000. Finally, Hexagon Capital Partners LLC raised its holdings in Portland General Electric by 140.6% in the first quarter. Hexagon Capital Partners LLC now owns 919 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 537 shares during the period.

Portland General Electric Stock Down 0.9 %

Portland General Electric stock opened at $48.26 on Friday. The firm has a market capitalization of $4.97 billion, a PE ratio of 18.49, a P/E/G ratio of 1.30 and a beta of 0.59. The company’s 50-day moving average is $47.53 and its 200-day moving average is $45.13. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.45. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The company had revenue of $758.00 million for the quarter, compared to analyst estimates of $716.43 million. During the same period in the previous year, the business earned $0.44 EPS. Portland General Electric’s revenue for the quarter was up 17.0% compared to the same quarter last year. Sell-side analysts anticipate that Portland General Electric will post 3.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on POR shares. Barclays lowered shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $48.00 to $49.00 in a report on Wednesday, September 18th. Bank of America started coverage on shares of Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Evercore ISI started coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price objective on the stock. Finally, KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and an average target price of $47.00.

Insider Activity at Portland General Electric

In related news, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the transaction, the chief operating officer now owns 30,142 shares in the company, valued at approximately $1,446,816. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the sale, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at $1,446,816. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,486 shares of company stock worth $262,153. Insiders own 0.54% of the company’s stock.

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.