Benjamin Edwards Inc. Purchases 3,547 Shares of Portland General Electric (NYSE:POR)

Benjamin Edwards Inc. increased its position in Portland General Electric (NYSE:POR) by 44.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,516 shares of the utilities provider’s stock after buying an additional 3,547 shares during the quarter. Benjamin Edwards Inc.’s holdings in Portland General Electric were worth $498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Portland General Electric by 29.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock worth $196,089,000 after acquiring an additional 1,017,503 shares during the last quarter. Norges Bank bought a new stake in Portland General Electric in the fourth quarter worth $39,112,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Portland General Electric during the second quarter valued at about $31,557,000. Cbre Investment Management Listed Real Assets LLC bought a new position in shares of Portland General Electric during the fourth quarter valued at about $17,460,000. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Portland General Electric by 24.5% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,265,745 shares of the utilities provider’s stock worth $54,857,000 after buying an additional 249,350 shares during the period.

Portland General Electric Stock Down 0.4 %

Shares of NYSE POR opened at $47.70 on Friday. The firm has a fifty day simple moving average of $47.37 and a two-hundred day simple moving average of $44.32. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $49.45. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $4.91 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.38 and a beta of 0.59.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $758.00 million during the quarter, compared to the consensus estimate of $716.43 million. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. Portland General Electric’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. Equities analysts expect that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s payout ratio is presently 76.63%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Jefferies Financial Group started coverage on Portland General Electric in a research report on Friday. They set a “hold” rating and a $48.00 price target on the stock. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. 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 target price on the stock. Barclays cut shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $48.00 to $49.00 in a research report on Wednesday. Finally, StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.88.

Insider Activity at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the transaction, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at $1,045,527.50. The disclosure for this sale can be found here. Insiders have sold 5,486 shares of company stock worth $262,153 over the last ninety days. 0.54% of the stock is owned by corporate insiders.

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.