Zacks Investment Management Increases Position in Portland General Electric (NYSE:POR)

Zacks Investment Management lifted its stake in Portland General Electric (NYSE:POR - Free Report) by 15.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 208,279 shares of the utilities provider's stock after purchasing an additional 27,452 shares during the quarter. Zacks Investment Management owned about 0.20% of Portland General Electric worth $9,977,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of POR. V Square Quantitative Management LLC purchased a new position in shares of Portland General Electric during the third quarter valued at approximately $25,000. Allworth Financial LP boosted its holdings in Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 265 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Portland General Electric in the 2nd quarter valued at $33,000. Blue Trust Inc. grew its position 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 acquiring an additional 451 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Portland General Electric in the second quarter worth $40,000.

Insider Buying and Selling

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares of the company's stock, valued at $688,902.90. This represents a 14.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

POR has been the subject of a number of recent analyst reports. Jefferies Financial Group began coverage on shares of Portland General Electric in a research note on Friday, September 20th. They set a "hold" rating and a $48.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Barclays reduced their target price on shares of Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 29th. StockNews.com upgraded Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday, September 24th. Finally, Bank of America started 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $49.13.

Portland General Electric Stock Down 0.9 %

Portland General Electric stock traded down $0.41 during mid-day trading on Friday, reaching $46.05. 381,104 shares of the company were exchanged, compared to its average volume of 782,671. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The firm has a market cap of $4.86 billion, a P/E ratio of 13.75, a PEG ratio of 1.19 and a beta of 0.59. The business has a fifty day moving average of $47.31 and a 200 day moving average of $46.25. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.85.

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 for the quarter, topping analysts' consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm had revenue of $929.00 million during the quarter, compared to analysts' expectations of $882.66 million. During the same period in the prior year, the business posted $0.46 EPS. The firm's quarterly revenue was up 15.8% on a year-over-year basis. Research analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Tuesday, December 24th. Portland General Electric's payout ratio is currently 59.70%.

About Portland General Electric

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.