Commonwealth Equity Services LLC Grows Position in Portland General Electric (NYSE:POR)

Commonwealth Equity Services LLC grew its holdings in Portland General Electric (NYSE:POR - Free Report) by 31.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,384 shares of the utilities provider's stock after buying an additional 10,571 shares during the period. Commonwealth Equity Services LLC's holdings in Portland General Electric were worth $1,936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of Portland General Electric in the fourth quarter worth approximately $29,000. Versant Capital Management Inc grew its position in Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 450 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after purchasing an additional 769 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Portland General Electric by 352.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock worth $61,000 after purchasing an additional 1,096 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in shares of Portland General Electric during the fourth quarter worth $71,000.

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Portland General Electric Stock Down 0.2 %

POR stock traded down $0.11 during trading on Wednesday, reaching $44.64. 818,792 shares of the company traded hands, compared to its average volume of 1,012,347. The business has a 50 day simple moving average of $43.18 and a 200 day simple moving average of $44.97. Portland General Electric has a 12 month low of $40.05 and a 12 month 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 company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. The business had revenue of $824.00 million for the quarter, compared to analysts' expectations of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same period last year, the business earned $0.67 EPS. On average, equities research analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric's dividend payout ratio is currently 66.45%.

Analyst Upgrades and Downgrades

Several research firms recently commented on POR. UBS Group reaffirmed a "neutral" rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. KeyCorp decreased their price target on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. Bank of America dropped their price objective 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. 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 report on Tuesday, February 18th. Finally, Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. One 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. Based on data from MarketBeat.com, Portland General Electric currently has a consensus rating of "Hold" and an average price target of $47.00.

Insider Transactions at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction 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 transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.40% of the company's stock.

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.