Portland General Electric (NYSE:POR) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its position in Portland General Electric (NYSE:POR) by 29.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,680 shares of the utilities provider’s stock after selling 71,520 shares during the period. Raymond James & Associates owned approximately 0.16% of Portland General Electric worth $8,080,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of POR. State of Michigan Retirement System increased its stake in Portland General Electric by 2.1% during the 1st quarter. State of Michigan Retirement System now owns 24,800 shares of the utilities provider’s stock valued at $1,042,000 after buying an additional 500 shares during the period. Retirement Systems of Alabama increased its stake in Portland General Electric by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 126,987 shares of the utilities provider’s stock valued at $5,333,000 after buying an additional 335 shares during the period. Private Advisor Group LLC acquired a new position in Portland General Electric during the 1st quarter valued at about $519,000. BNP Paribas Financial Markets increased its stake in Portland General Electric by 10.0% during the 1st quarter. BNP Paribas Financial Markets now owns 59,610 shares of the utilities provider’s stock valued at $2,504,000 after buying an additional 5,428 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in Portland General Electric by 9.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 32,433 shares of the utilities provider’s stock valued at $1,362,000 after buying an additional 2,695 shares during the period.

Insider Buying and Selling at Portland General Electric

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Barclays lowered 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 note on Tuesday. Bank of America started coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on shares of Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.13.

Portland General Electric Stock Performance

POR stock opened at $47.47 on Thursday. 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 stock has a market cap of $4.89 billion, a P/E ratio of 14.17, a P/E/G ratio of 1.22 and a beta of 0.59. The firm has a 50 day simple moving average of $47.85 and a 200 day simple moving average of $45.58. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The business 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 firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share. Research analysts anticipate that Portland General Electric will post 3.13 earnings per share for the current fiscal 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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

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.