Cibc World Markets Corp Acquires Shares of 9,736 Portland General Electric (NYSE:POR)

Cibc World Markets Corp bought a new position in shares of Portland General Electric (NYSE:POR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,736 shares of the utilities provider’s stock, valued at approximately $425,000.

Other large investors have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Portland General Electric during the fourth quarter valued at $29,000. Versant Capital Management Inc lifted its position in shares of Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 450 shares during the period. Cullen Frost Bankers Inc. boosted its stake in shares of Portland General Electric by 1,538.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 769 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock worth $61,000 after buying an additional 1,096 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in Portland General Electric during the 4th quarter valued at $71,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on POR shares. LADENBURG THALM/SH SH downgraded Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research report on Tuesday, February 18th. Barclays increased their target price on shares of 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 cut their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. KeyCorp decreased 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. Finally, Bank of America dropped their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research note on Tuesday, December 24th. One 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’s stock. According to MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and an average target price of $47.00.

Portland General Electric Stock Down 1.4 %

Shares of POR stock opened at $43.73 on Monday. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The firm has a market capitalization of $4.79 billion, a PE ratio of 14.53, a P/E/G ratio of 1.11 and a beta of 0.55. The stock’s 50-day simple moving average is $42.80 and its 200-day simple moving average is $45.18.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS 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 firm had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. Equities analysts expect that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.57%. Portland General Electric’s payout ratio is 66.45%.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.40% of the company’s stock.

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.