Allspring Global Investments Holdings LLC Acquires Shares of 12,421 Portland General Electric (NYSE:POR)

Allspring Global Investments Holdings LLC purchased a new stake in Portland General Electric (NYSE:POR - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 12,421 shares of the utilities provider's stock, valued at approximately $595,000.

A number of other institutional investors also recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in Portland General Electric during the 3rd quarter valued at about $25,000. LRI Investments LLC purchased a new position in Portland General Electric during the first quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV increased its holdings in Portland General Electric by 767.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider's stock worth $25,000 after acquiring an additional 514 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Portland General Electric in the 2nd quarter worth approximately $33,000. Finally, Blue Trust Inc. boosted its holdings in Portland General Electric by 94.5% in the 2nd quarter. Blue Trust Inc. now owns 928 shares of the utilities provider's stock valued at $39,000 after purchasing an additional 451 shares during the period.

Insider Activity

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

Portland General Electric Price Performance

Shares of POR stock traded down $1.30 during trading hours on Friday, hitting $46.10. 1,078,089 shares of the company's stock were exchanged, compared to its average volume of 942,359. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.85. The company has a market capitalization of $4.86 billion, a PE ratio of 13.76, a PEG ratio of 1.21 and a beta of 0.59. The business's 50 day simple moving average is $47.82 and its 200-day simple moving average is $45.68. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The firm's revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities research analysts anticipate that Portland General Electric will post 3.11 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 given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.34%. Portland General Electric's payout ratio is currently 59.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on POR shares. Bank of America started coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an "underperform" rating and a $47.00 price objective on the stock. Jefferies Financial Group began coverage on Portland General Electric in a report on Friday, September 20th. They issued a "hold" rating and a $48.00 price target on the stock. KeyCorp raised Portland General Electric from a "sector weight" rating to an "overweight" rating in a report on Monday, July 22nd. Evercore ISI started coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $54.00 price objective on the stock. Finally, Barclays dropped their target price 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $48.13.

Portland General Electric 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.