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

Raymond James Financial Inc. bought a new position in Portland General Electric (NYSE:POR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in POR. Newbridge Financial Services Group Inc. purchased a new stake in Portland General Electric during the fourth quarter valued at approximately $29,000. Versant Capital Management Inc increased its stake in shares of Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock worth $33,000 after purchasing an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in Portland General Electric by 1,538.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after purchasing an additional 769 shares during the period. USA Financial Formulas purchased a new position in Portland General Electric during the fourth quarter valued at $71,000. Finally, KBC Group NV grew its holdings in Portland General Electric by 59.3% during the fourth quarter. KBC Group NV now owns 3,649 shares of the utilities provider's stock valued at $159,000 after purchasing an additional 1,359 shares during the period.

Portland General Electric Price Performance

POR traded up $0.85 during trading hours on Thursday, hitting $43.83. The company's stock had a trading volume of 1,145,027 shares, compared to its average volume of 1,182,114. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 1.11 and a beta of 0.55. The business's 50-day moving average price is $42.92 and its 200-day moving average price is $45.09. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85.

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Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $824.00 million for the quarter, compared to analysts' expectations of $716.17 million. During the same period in the prior year, the company earned $0.67 EPS. Sell-side analysts expect that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Monday, March 24th. Portland General Electric's dividend payout ratio is currently 66.45%.

Insider Activity at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction 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 sale, the chief financial officer now owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Bank of America lowered their price objective on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a research report on Tuesday, December 24th. Barclays lifted their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Evercore ISI raised their price objective on shares of Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. KeyCorp dropped their target price on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, December 4th. Finally, Jefferies Financial Group decreased their price target on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $47.00.

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.