Commonwealth Equity Services LLC Has $1.94 Million Stock Holdings in Portland General Electric (NYSE:POR)

Commonwealth Equity Services LLC raised its position in Portland General Electric (NYSE:POR) by 31.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,384 shares of the utilities provider’s stock after acquiring an additional 10,571 shares during the period. Commonwealth Equity Services LLC’s holdings in Portland General Electric were worth $1,936,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vestcor Inc acquired a new position in shares of Portland General Electric in the 4th quarter valued at $298,000. Swiss National Bank increased its stake in Portland General Electric by 0.7% in the fourth quarter. Swiss National Bank now owns 202,700 shares of the utilities provider’s stock valued at $8,842,000 after acquiring an additional 1,500 shares during the period. Farther Finance Advisors LLC raised its position in Portland General Electric by 9.1% in the fourth quarter. Farther Finance Advisors LLC now owns 9,714 shares of the utilities provider’s stock worth $424,000 after purchasing an additional 811 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Portland General Electric by 352.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 1,096 shares during the period. Finally, Channing Capital Management LLC boosted its holdings in Portland General Electric by 7.2% during the fourth quarter. Channing Capital Management LLC now owns 1,831,864 shares of the utilities provider’s stock valued at $79,906,000 after purchasing an additional 123,223 shares in the last quarter.

Portland General Electric Price Performance

POR opened at $44.39 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The stock has a market capitalization of $4.86 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. The company’s 50 day simple moving average is $43.01 and its 200-day simple moving average is $45.06. Portland General Electric has a one year low of $40.05 and a one year high of $49.85.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million during the quarter, compared to analyst estimates of $716.17 million. During the same period last year, the company earned $0.67 earnings per share. Sell-side analysts anticipate 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. Shareholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is currently 66.45%.

Insider Buying and Selling

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Bank of America cut their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. LADENBURG THALM/SH SH downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Tuesday, February 18th. Jefferies Financial Group dropped their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Evercore ISI boosted their price target 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. Finally, Barclays upped their price objective on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $47.00.

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.