Franklin Resources Inc. Buys 81,701 Shares of Portland General Electric (NYSE:POR)

Franklin Resources Inc. lifted its holdings in Portland General Electric (NYSE:POR - Free Report) by 114.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,290 shares of the utilities provider's stock after acquiring an additional 81,701 shares during the quarter. Franklin Resources Inc. owned approximately 0.15% of Portland General Electric worth $7,289,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sanctuary Advisors LLC boosted its stake in Portland General Electric by 53.0% in the third quarter. Sanctuary Advisors LLC now owns 14,254 shares of the utilities provider's stock worth $678,000 after purchasing an additional 4,936 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Portland General Electric by 20.2% in the third quarter. Coldstream Capital Management Inc. now owns 6,078 shares of the utilities provider's stock valued at $291,000 after buying an additional 1,020 shares during the last quarter. Geode Capital Management LLC lifted its position in Portland General Electric by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider's stock worth $117,114,000 after buying an additional 25,332 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Portland General Electric during the 3rd quarter worth about $596,000. Finally, MML Investors Services LLC grew its holdings in Portland General Electric by 11.6% during the 3rd quarter. MML Investors Services LLC now owns 54,833 shares of the utilities provider's stock worth $2,627,000 after acquiring an additional 5,712 shares during the last quarter.

Portland General Electric Trading Up 0.4 %

NYSE POR traded up $0.17 on Monday, reaching $44.20. The company had a trading volume of 1,585,796 shares, compared to its average volume of 965,590. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The stock's 50 day moving average is $46.81 and its 200-day moving average is $46.32. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.13 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 analysts' consensus estimates 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 net margin of 10.30% and a return on equity of 10.28%. The business's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 earnings per share. Equities analysts predict that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.52%. Portland General Electric's dividend payout ratio is presently 59.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on POR shares. KeyCorp reduced their target price on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 4th. Bank of America began coverage on Portland General Electric in a report on Thursday, September 12th. They set an "underperform" rating and a $47.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Barclays cut their price target on Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group started 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Portland General Electric has an average rating of "Hold" and an average price target of $49.13.

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.