Portland General Electric (NYSE:POR) Shares Sold by Empower Advisory Group LLC

Empower Advisory Group LLC reduced its stake in Portland General Electric (NYSE:POR - Free Report) by 8.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 625,077 shares of the utilities provider's stock after selling 60,858 shares during the period. Empower Advisory Group LLC owned approximately 0.59% of Portland General Electric worth $29,941,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of POR. Gabelli Funds LLC increased its holdings in Portland General Electric by 3.8% in the first quarter. Gabelli Funds LLC now owns 297,049 shares of the utilities provider's stock valued at $12,476,000 after buying an additional 11,000 shares during the last quarter. Jane Street Group LLC increased its holdings in Portland General Electric by 274.5% in the first quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider's stock valued at $8,303,000 after buying an additional 144,900 shares during the last quarter. Edgestream Partners L.P. increased its holdings in Portland General Electric by 299.1% in the first quarter. Edgestream Partners L.P. now owns 102,993 shares of the utilities provider's stock valued at $4,326,000 after buying an additional 77,185 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Portland General Electric by 13.1% in the first quarter. Clearbridge Investments LLC now owns 480,351 shares of the utilities provider's stock valued at $20,175,000 after buying an additional 55,555 shares during the last quarter. Finally, Cetera Advisors LLC increased its holdings in Portland General Electric by 231.6% in the first quarter. Cetera Advisors LLC now owns 19,499 shares of the utilities provider's stock valued at $819,000 after buying an additional 13,618 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have issued reports on POR shares. Evercore ISI initiated coverage on Portland General Electric in a report on Wednesday, September 25th. They set an "outperform" rating and a $54.00 price objective on the stock. Jefferies Financial Group initiated coverage on shares of Portland General Electric in a research report on Friday, September 20th. They issued a "hold" rating and a $48.00 price objective for the company. Barclays reduced their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th. Bank of America initiated coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They issued an "underperform" rating and a $47.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Portland General Electric presently has a consensus rating of "Hold" and a consensus target price of $48.86.

Insider Activity at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. This represents a 14.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by insiders.

Portland General Electric Price Performance

Shares of POR stock traded down $0.44 during midday trading on Thursday, reaching $45.89. 1,029,977 shares of the company traded hands, compared to its average volume of 954,459. The firm's 50 day simple moving average is $47.62 and its two-hundred day simple moving average is $45.91. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The firm has a market cap of $4.84 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.20 and a beta of 0.59.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The business had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The business's revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 earnings per share. On average, equities research analysts expect that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.36%. Portland General Electric's payout ratio is 59.70%.

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.