Stifel Financial Corp Acquires 6,279 Shares of Portland General Electric (NYSE:POR)

Stifel Financial Corp increased its stake in Portland General Electric (NYSE:POR) by 13.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,962 shares of the utilities provider’s stock after buying an additional 6,279 shares during the period. Stifel Financial Corp’s holdings in Portland General Electric were worth $2,489,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Systematic Financial Management LP raised its stake in shares of Portland General Electric by 26.6% during the third quarter. Systematic Financial Management LP now owns 537,862 shares of the utilities provider’s stock valued at $25,764,000 after acquiring an additional 113,161 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of Portland General Electric by 43.2% during the 3rd quarter. Quantinno Capital Management LP now owns 9,969 shares of the utilities provider’s stock worth $478,000 after buying an additional 3,009 shares in the last quarter. Redwood Grove Capital LLC increased its stake in shares of Portland General Electric by 17.5% during the third quarter. Redwood Grove Capital LLC now owns 347,021 shares of the utilities provider’s stock valued at $16,622,000 after buying an additional 51,696 shares during the period. Petrus Trust Company LTA increased its stake in shares of Portland General Electric by 95.9% during the third quarter. Petrus Trust Company LTA now owns 14,996 shares of the utilities provider’s stock valued at $718,000 after buying an additional 7,343 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of Portland General Electric by 69.8% in the third quarter. Point72 Asset Management L.P. now owns 292,880 shares of the utilities provider’s stock valued at $14,029,000 after acquiring an additional 120,380 shares in the last quarter.

Portland General Electric Trading Down 1.9 %

Shares of NYSE:POR opened at $43.66 on Thursday. The business’s 50-day moving average is $46.97 and its 200 day moving average is $46.30. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85. The firm has a market capitalization of $4.60 billion, a P/E ratio of 13.03, a P/E/G ratio of 1.13 and a beta of 0.59.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data 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 firm had revenue of $929.00 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 earnings per share. On average, research analysts predict that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be paid a $0.50 dividend. 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 4.58%. Portland General Electric’s dividend payout ratio (DPR) is 59.70%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on POR shares. KeyCorp dropped their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Jefferies Financial Group initiated coverage on shares of Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price objective on the stock. Barclays lowered their target price 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. JPMorgan Chase & Co. lifted their price target on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI started coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and a consensus price target of $49.13.

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.