Menard Financial Group LLC Buys Shares of 4,270 Portland General Electric (NYSE:POR)

Menard Financial Group LLC acquired a new position in shares of Portland General Electric (NYSE:POR) in the third quarter, HoldingsChannel.com reports. The fund acquired 4,270 shares of the utilities provider’s stock, valued at approximately $205,000.

A number of other institutional investors have also recently modified their holdings of POR. Dimensional Fund Advisors LP lifted its holdings in Portland General Electric by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after acquiring an additional 86,718 shares during the period. HITE Hedge Asset Management LLC lifted its stake in shares of Portland General Electric by 7.1% in the second quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock valued at $64,216,000 after purchasing an additional 97,922 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Portland General Electric by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock worth $61,219,000 after buying an additional 13,720 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Portland General Electric by 72.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock valued at $60,346,000 after acquiring an additional 530,020 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Portland General Electric by 6.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock valued at $46,561,000 after purchasing an additional 69,392 shares during the last quarter.

Portland General Electric Stock Down 0.2 %

NYSE POR opened at $47.13 on Wednesday. The stock has a market cap of $4.97 billion, a PE ratio of 14.07, a P/E/G ratio of 1.20 and a beta of 0.59. The business has a 50 day moving average price of $47.38 and a two-hundred day moving average price of $46.22. 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 has a fifty-two week low of $39.13 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The business had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same period in the previous year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, sell-side analysts predict that Portland General Electric will post 3.12 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.24%. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were 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 in the company, valued at $688,902.90. The trade was a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

POR has been the topic of a number of analyst reports. Evercore ISI initiated coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Barclays lowered their price target on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Bank of America assumed coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Portland General Electric has an average rating of “Hold” and an average target price of $48.86.

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.