Wealth Enhancement Advisory Services LLC Buys 810 Shares of Portland General Electric (NYSE:POR)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Portland General Electric (NYSE:POR) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,504 shares of the utilities provider’s stock after buying an additional 810 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Portland General Electric were worth $599,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Allworth Financial LP grew 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 in the last quarter. Spirit of America Management Corp NY boosted its holdings in Portland General Electric by 57.9% during the third quarter. Spirit of America Management Corp NY now owns 6,000 shares of the utilities provider’s stock worth $287,000 after purchasing an additional 2,200 shares during the last quarter. Moody Aldrich Partners LLC grew its position in Portland General Electric by 34.9% in the 3rd quarter. Moody Aldrich Partners LLC now owns 175,157 shares of the utilities provider’s stock worth $8,390,000 after purchasing an additional 45,363 shares in the last quarter. Brighton Jones LLC bought a new stake in Portland General Electric in the 3rd quarter worth about $217,000. Finally, International Assets Investment Management LLC increased its stake in Portland General Electric by 4,690.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock valued at $96,000 after buying an additional 1,970 shares during the last quarter.

Insider Transactions at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the sale, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Trading Down 1.5 %

Shares of Portland General Electric stock opened at $46.49 on Friday. The stock has a market capitalization of $4.90 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.18 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. 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’s 50-day simple moving average is $47.74 and its 200 day simple moving average is $45.79.

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

Portland General Electric Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 4.30%. Portland General Electric’s dividend payout ratio is currently 59.70%.

Analyst Upgrades and Downgrades

POR has been the topic of a number of research analyst reports. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Bank of America initiated coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective for the company. 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 target price for the company. Barclays cut 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 report on Tuesday, October 29th. Finally, StockNews.com upgraded shares of 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 assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Portland General Electric presently has an average rating of “Hold” and a consensus price target of $48.13.

About Portland General Electric

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.