Portland General Electric (NYSE:POR) Shares Sold by Raymond James & Associates

Raymond James & Associates decreased its position in shares of Portland General Electric (NYSE:POR - Free Report) by 29.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,680 shares of the utilities provider's stock after selling 71,520 shares during the quarter. Raymond James & Associates owned 0.16% of Portland General Electric worth $8,080,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of POR. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider's stock worth $25,000 after purchasing an additional 514 shares during the period. V Square Quantitative Management LLC acquired a new position in Portland General Electric in the third quarter valued at approximately $25,000. LRI Investments LLC acquired a new position in Portland General Electric in the first quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Portland General Electric in the second quarter valued at approximately $33,000. Finally, Blue Trust Inc. lifted its holdings in Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider's stock valued at $39,000 after acquiring an additional 451 shares during the period.

Analysts Set New Price Targets

A number of brokerages have issued reports on POR. JPMorgan Chase & Co. boosted their price target on Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Jefferies Financial Group assumed coverage on 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. KeyCorp upgraded Portland General Electric from a "sector weight" rating to an "overweight" rating in a research report on Monday, July 22nd. Barclays cut their price objective on Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating for the company in a research report on Tuesday. Finally, Evercore ISI assumed coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $54.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $48.13.

Portland General Electric Price Performance

Shares of POR traded down $0.05 during trading hours on Thursday, hitting $47.42. 1,013,993 shares of the stock were exchanged, compared to its average volume of 953,635. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.85. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.22 and a beta of 0.59. The stock's 50-day moving average price is $47.85 and its two-hundred day moving average price is $45.60.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The firm had revenue of $929.00 million during the quarter, compared to analysts' expectations of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm's revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.46 earnings per share. Research analysts expect that Portland General Electric will post 3.13 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric's dividend payout ratio (DPR) is currently 59.70%.

Insiders Place Their Bets

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the business's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the transaction, the vice president now owns 22,606 shares of the company's stock, valued at approximately $1,045,527.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the transaction, the senior vice president now owns 14,263 shares of the company's stock, valued at $688,902.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John Teeruk Kochavatr sold 1,100 shares of the company's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the transaction, the vice president now directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate 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.