Cerity Partners LLC Raises Stake in Portland General Electric (NYSE:POR)

Cerity Partners LLC boosted its holdings in Portland General Electric (NYSE:POR) by 37.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,448 shares of the utilities provider’s stock after acquiring an additional 13,519 shares during the period. Cerity Partners LLC’s holdings in Portland General Electric were worth $2,369,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of POR. Massmutual Trust Co. FSB ADV grew its position in Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 514 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Portland General Electric during the 3rd quarter worth approximately $25,000. Allworth Financial LP increased its position in shares of Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 265 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Portland General Electric in the second quarter valued at approximately $33,000. Finally, Blue Trust Inc. grew its position in Portland General Electric by 94.5% during the 2nd quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 451 shares during the last quarter.

Insider Activity at Portland General Electric

In other 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 transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.54% of the company’s stock.

Portland General Electric Price Performance

POR stock opened at $47.92 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The stock’s 50 day moving average is $47.40 and its two-hundred day moving average is $46.19. The company has a market capitalization of $5.05 billion, a PE ratio of 14.30, a P/E/G ratio of 1.22 and a beta of 0.59. 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 issued its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $882.66 million. During the same quarter last year, the company posted $0.46 earnings per share. Portland General Electric’s revenue was up 15.8% on a year-over-year basis. Analysts predict that Portland General Electric will post 3.12 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.17%. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Analyst Upgrades and Downgrades

POR has been the subject of several recent research reports. Barclays decreased their price target on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Evercore ISI began coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target on the stock. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Jefferies Financial Group initiated coverage on shares of Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and an average price target of $48.86.

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.