Portland General Electric (NYSE:POR) Shares Sold by Atria Investments Inc

Atria Investments Inc decreased its position in shares of Portland General Electric (NYSE:POR) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,364 shares of the utilities provider’s stock after selling 1,116 shares during the period. Atria Investments Inc’s holdings in Portland General Electric were worth $496,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Portland General Electric in the third quarter valued at $25,000. LRI Investments LLC acquired a new stake in Portland General Electric in the 1st quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 514 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 265 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Portland General Electric during the 2nd quarter valued at $33,000.

Portland General Electric Price Performance

NYSE:POR opened at $46.88 on Thursday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The company has a fifty day moving average price of $47.49 and a 200 day moving average price of $46.01. Portland General Electric has a one year low of $39.13 and a one year high of $49.85. The stock has a market cap of $4.94 billion, a P/E ratio of 14.01, a PEG ratio of 1.19 and a beta of 0.59.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same period in the previous year, the business earned $0.46 EPS. The firm’s revenue was up 15.8% on a year-over-year basis. Analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s payout ratio is 59.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Bank of America initiated 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. Jefferies Financial Group started coverage on Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 price objective for the company. Barclays dropped their price target 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, October 29th. Evercore ISI started coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective on the stock. Finally, StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Portland General Electric presently has a consensus rating of “Hold” and an average price target of $48.86.

Insider Activity

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s 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 owns 14,263 shares of the company’s stock, valued at $688,902.90. This trade represents a 14.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by corporate insiders.

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.