Raymond James Financial Inc. Buys Shares of 164,631 Portland General Electric (NYSE:POR)

Raymond James Financial Inc. bought a new stake in Portland General Electric (NYSE:POR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 164,631 shares of the utilities provider's stock, valued at approximately $7,181,000. Raymond James Financial Inc. owned about 0.16% of Portland General Electric at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in POR. Norges Bank acquired a new position in shares of Portland General Electric in the 4th quarter valued at $62,004,000. Assenagon Asset Management S.A. purchased a new position in shares of Portland General Electric in the 4th quarter worth $32,553,000. Vanguard Group Inc. boosted its holdings in Portland General Electric by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock valued at $519,651,000 after acquiring an additional 572,531 shares during the last quarter. OLD Republic International Corp purchased a new stake in Portland General Electric during the fourth quarter valued at about $22,464,000. Finally, Brandywine Global Investment Management LLC increased its stake in Portland General Electric by 1,510.2% during the fourth quarter. Brandywine Global Investment Management LLC now owns 359,126 shares of the utilities provider's stock worth $15,665,000 after acquiring an additional 336,823 shares during the last quarter.

Portland General Electric Stock Down 0.0 %

Shares of POR traded down $0.01 during midday trading on Monday, hitting $41.35. The company had a trading volume of 531,138 shares, compared to its average volume of 1,029,125. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.11 and a beta of 0.49. The company's 50 day moving average price is $43.59 and its 200 day moving average price is $44.32. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The company's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 EPS. On average, equities research analysts predict that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a dividend of $0.525 per share. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 annualized dividend and a yield of 5.08%. Portland General Electric's payout ratio is presently 69.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Evercore ISI reduced their price objective on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday. Jefferies Financial Group decreased their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. Barclays increased their price objective on shares of Portland General Electric from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. Wells Fargo & Company reduced their target price on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $44.00 price target (down from $50.00) on shares of Portland General Electric in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $45.40.

Insiders Place Their Bets

In other news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the sale, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. This represents a 5.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now owns 31,960 shares of the company's stock, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,795 shares of company stock valued at $159,946. Company insiders own 0.40% of the company's stock.

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.