Portland General Electric (NYSE:POR) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in shares of Portland General Electric (NYSE:POR) by 114.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,290 shares of the utilities provider’s stock after purchasing an additional 81,701 shares during the quarter. Franklin Resources Inc. owned approximately 0.15% of Portland General Electric worth $7,289,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its holdings in shares of Portland General Electric by 53.0% during the third quarter. Sanctuary Advisors LLC now owns 14,254 shares of the utilities provider’s stock valued at $678,000 after acquiring an additional 4,936 shares during the period. Coldstream Capital Management Inc. lifted its position in Portland General Electric by 20.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,078 shares of the utilities provider’s stock valued at $291,000 after purchasing an additional 1,020 shares during the last quarter. Geode Capital Management LLC lifted its position in Portland General Electric by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock valued at $117,114,000 after purchasing an additional 25,332 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Portland General Electric during the 3rd quarter valued at about $596,000. Finally, MML Investors Services LLC grew its position in Portland General Electric by 11.6% in the 3rd quarter. MML Investors Services LLC now owns 54,833 shares of the utilities provider’s stock worth $2,627,000 after purchasing an additional 5,712 shares during the last quarter.

Portland General Electric Trading Up 0.3 %

Shares of POR stock opened at $44.03 on Monday. The stock has a 50-day simple moving average of $46.88 and a 200 day simple moving average of $46.31. The stock has a market capitalization of $4.64 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.13 and a beta of 0.59. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. During the same quarter last year, the firm posted $0.46 EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, sell-side analysts expect that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.54%. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on POR. JPMorgan Chase & Co. boosted their price objective 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. Bank of America initiated coverage on Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target for the company. Evercore ISI began coverage on Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target on the stock. KeyCorp reduced their price objective 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. Finally, StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $49.13.

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.