Allworth Financial LP Has $30,000 Stock Position in Portland General Electric (NYSE:POR)

Allworth Financial LP raised its holdings in shares of Portland General Electric (NYSE:POR) by 74.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 621 shares of the utilities provider’s stock after acquiring an additional 265 shares during the quarter. Allworth Financial LP’s holdings in Portland General Electric were worth $30,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in POR. Vaughan Nelson Investment Management L.P. bought a new position in shares of Portland General Electric during the 2nd quarter worth approximately $31,557,000. Marshall Wace LLP grew its stake in shares of Portland General Electric by 657.0% during the 2nd quarter. Marshall Wace LLP now owns 314,688 shares of the utilities provider’s stock worth $13,607,000 after acquiring an additional 273,118 shares in the last quarter. Systematic Financial Management LP grew its stake in shares of Portland General Electric by 83.4% during the 2nd quarter. Systematic Financial Management LP now owns 424,701 shares of the utilities provider’s stock worth $18,364,000 after acquiring an additional 193,164 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Portland General Electric during the 2nd quarter worth approximately $7,459,000. Finally, Natixis Advisors LLC grew its stake in shares of Portland General Electric by 91.7% during the 2nd quarter. Natixis Advisors LLC now owns 312,313 shares of the utilities provider’s stock worth $13,505,000 after acquiring an additional 149,429 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently weighed in on POR shares. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Jefferies Financial Group started coverage on shares of Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Evercore ISI started coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. Finally, Bank of America started coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Portland General Electric has a consensus rating of “Hold” and an average price target of $48.13.

Insider Transactions at Portland General Electric

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction 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 approximately $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction 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 approximately $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Portland General Electric Trading Down 2.7 %

POR stock opened at $46.10 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The company has a fifty day moving average price of $47.85 and a two-hundred day moving average price of $45.61. Portland General Electric has a one year low of $39.13 and a one year high of $49.85. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.21 and a beta of 0.59.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. During the same period in the previous year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. Equities analysts anticipate that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is currently 59.70%.

Portland General Electric Profile

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.