Principal Securities Inc. Boosts Stock Position in Portland General Electric (NYSE:POR)

Principal Securities Inc. raised its stake in Portland General Electric (NYSE:POR) by 23.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,518 shares of the utilities provider’s stock after purchasing an additional 1,259 shares during the quarter. Principal Securities Inc.’s holdings in Portland General Electric were worth $284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Allworth Financial LP raised its holdings in Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 265 shares in the last quarter. Choreo LLC increased its position in Portland General Electric by 1.4% during the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock worth $1,166,000 after purchasing an additional 371 shares during the period. Versant Capital Management Inc raised its stake in shares of Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after buying an additional 450 shares in the last quarter. Townsquare Capital LLC lifted its holdings in shares of Portland General Electric by 6.4% in the 3rd quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock valued at $364,000 after buying an additional 458 shares during the period. Finally, Trust Co. of Vermont boosted its position in shares of Portland General Electric by 5.8% during the 4th quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider’s stock worth $372,000 after purchasing an additional 465 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on POR shares. UBS Group reiterated a “neutral” rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Tuesday, February 18th. Jefferies Financial Group decreased their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Evercore ISI raised their price objective on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, KeyCorp reduced their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.44.

Portland General Electric Trading Up 1.3 %

Shares of Portland General Electric stock opened at $44.36 on Monday. Portland General Electric has a 1 year low of $39.49 and a 1 year high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The business has a 50 day moving average price of $42.39 and a 200 day moving average price of $45.59. The company has a market capitalization of $4.85 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.11 and a beta of 0.61.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. During the same period in the previous year, the firm posted $0.67 earnings per share. Sell-side analysts anticipate that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.51%. Portland General Electric’s dividend payout ratio (DPR) is 66.45%.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the transaction, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.54% of the stock is owned by corporate insiders.

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.