Commonwealth Equity Services LLC Has $1.94 Million Stake in Portland General Electric (NYSE:POR)

Commonwealth Equity Services LLC increased its stake in Portland General Electric (NYSE:POR) by 31.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 44,384 shares of the utilities provider’s stock after purchasing an additional 10,571 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Portland General Electric were worth $1,936,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Vestcor Inc bought a new stake in shares of Portland General Electric in the fourth quarter valued at about $298,000. Swiss National Bank raised its position in Portland General Electric by 0.7% in the 4th quarter. Swiss National Bank now owns 202,700 shares of the utilities provider’s stock valued at $8,842,000 after buying an additional 1,500 shares during the last quarter. Farther Finance Advisors LLC raised its position in Portland General Electric by 9.1% in the 4th quarter. Farther Finance Advisors LLC now owns 9,714 shares of the utilities provider’s stock valued at $424,000 after buying an additional 811 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Portland General Electric by 352.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 1,096 shares in the last quarter. Finally, Channing Capital Management LLC boosted its position in Portland General Electric by 7.2% during the 4th quarter. Channing Capital Management LLC now owns 1,831,864 shares of the utilities provider’s stock worth $79,906,000 after acquiring an additional 123,223 shares during the last quarter.

Portland General Electric Trading Up 1.5 %

Shares of Portland General Electric stock opened at $44.39 on Friday. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.11 and a beta of 0.55. The business has a fifty day simple moving average of $43.01 and a two-hundred day simple moving average of $45.06. Portland General Electric has a 1 year low of $40.05 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.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same period last year, the business posted $0.67 earnings per share. Research analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio is 66.45%.

Analysts Set New Price Targets

POR has been the topic of a number of research reports. Jefferies Financial Group cut their price objective on shares of 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. Evercore ISI lifted their target price on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Bank of America reduced their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. Barclays boosted their price target on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Finally, 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 research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Portland General Electric currently has an average rating of “Hold” and an average target price of $47.00.

Insiders Place Their Bets

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.