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

Cibc World Markets Corp acquired a new stake in shares of Portland General Electric (NYSE:POR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,736 shares of the utilities provider's stock, valued at approximately $425,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Swiss National Bank increased its holdings in shares of Portland General Electric by 1.0% in the 3rd quarter. Swiss National Bank now owns 201,200 shares of the utilities provider's stock worth $9,637,000 after purchasing an additional 2,000 shares in the last quarter. Quest Partners LLC boosted its position in Portland General Electric by 821.4% in the third quarter. Quest Partners LLC now owns 8,551 shares of the utilities provider's stock worth $410,000 after purchasing an additional 7,623 shares during the last quarter. Pathstone Holdings LLC grew its stake in shares of Portland General Electric by 12.2% during the 3rd quarter. Pathstone Holdings LLC now owns 29,632 shares of the utilities provider's stock valued at $1,421,000 after purchasing an additional 3,232 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Portland General Electric during the 3rd quarter valued at about $1,539,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Portland General Electric by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider's stock worth $61,219,000 after purchasing an additional 13,720 shares during the period.

Analyst Ratings Changes

POR has been the subject of several recent research reports. KeyCorp cut their target price on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a research report on Wednesday, December 4th. Bank of America reduced their price objective on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a research note on Tuesday, December 24th. Barclays lifted 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. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target for the company. in a report on Tuesday, February 18th. Finally, Jefferies Financial Group decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $47.00.

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Portland General Electric Price Performance

Shares of NYSE:POR traded up $0.85 during trading on Thursday, hitting $43.83. 1,145,027 shares of the company's stock were exchanged, compared to its average volume of 924,383. The business's 50-day simple moving average is $42.92 and its 200 day simple moving average is $45.09. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.11 and a beta of 0.55. Portland General Electric has a 52-week low of $40.05 and a 52-week 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 - Get Free Report) last announced its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $824.00 million during the quarter, compared to analyst estimates of $716.17 million. During the same period last year, the firm posted $0.67 EPS. As a group, equities analysts predict that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 annualized dividend and a dividend yield of 4.56%. Portland General Electric's dividend payout ratio (DPR) is 66.45%.

Insider Buying and Selling

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

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.