Portland General Electric (NYSE:POR) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its stake in shares of Portland General Electric (NYSE:POR) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,714 shares of the utilities provider’s stock after purchasing an additional 811 shares during the quarter. Farther Finance Advisors LLC’s holdings in Portland General Electric were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Portland General Electric during the 3rd quarter worth approximately $596,000. Nordea Investment Management AB raised its position in shares of Portland General Electric by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock worth $43,058,000 after purchasing an additional 19,057 shares during the period. Franklin Resources Inc. raised its position in shares of Portland General Electric by 114.1% during the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock worth $7,289,000 after purchasing an additional 81,701 shares during the period. Synergy Asset Management LLC raised its position in shares of Portland General Electric by 260.6% during the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock worth $5,096,000 after purchasing an additional 82,743 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of Portland General Electric by 14.2% during the 3rd quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock worth $4,114,000 after purchasing an additional 10,643 shares during the period.

Wall Street Analysts Forecast Growth

POR has been the topic of several analyst reports. Barclays raised their target price on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. KeyCorp lowered their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Tuesday, February 18th. Finally, UBS Group restated a “neutral” rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Portland General Electric presently has an average rating of “Hold” and an average target price of $47.00.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s 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 sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.40% of the company’s stock.

Portland General Electric Stock Up 1.4 %

Shares of POR stock opened at $44.94 on Monday. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The stock has a market cap of $4.92 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. The business’s fifty day moving average is $42.58 and its 200-day moving average is $45.32. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The business 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 company posted $0.67 EPS. Equities analysts expect that Portland General Electric will post 3.21 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 Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio is presently 66.45%.

Portland General Electric Company 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.