Portland General Electric (NYSE:POR) Shares Bought by Petrus Trust Company LTA

Petrus Trust Company LTA increased its holdings in Portland General Electric (NYSE:POR) by 95.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,996 shares of the utilities provider’s stock after buying an additional 7,343 shares during the quarter. Petrus Trust Company LTA’s holdings in Portland General Electric were worth $718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of POR. Price T Rowe Associates Inc. MD increased its stake in Portland General Electric by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 52,603 shares of the utilities provider’s stock valued at $2,210,000 after buying an additional 3,703 shares during the period. Tidal Investments LLC boosted its holdings in shares of Portland General Electric by 3.6% in the first quarter. Tidal Investments LLC now owns 19,118 shares of the utilities provider’s stock valued at $801,000 after acquiring an additional 662 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Portland General Electric by 228.4% during the first quarter. Cetera Investment Advisers now owns 52,833 shares of the utilities provider’s stock valued at $2,219,000 after acquiring an additional 36,744 shares during the period. Cetera Advisors LLC raised its holdings in Portland General Electric by 231.6% during the first quarter. Cetera Advisors LLC now owns 19,499 shares of the utilities provider’s stock worth $819,000 after purchasing an additional 13,618 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Portland General Electric by 244.0% in the second quarter. GAMMA Investing LLC now owns 2,697 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 1,913 shares during the period.

Wall Street Analysts Forecast Growth

POR has been the topic of several research analyst reports. Evercore ISI started coverage on Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target on the stock. Jefferies Financial Group initiated coverage on Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays reduced their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Finally, Bank of America initiated coverage on shares of Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $48.86.

Insiders Place Their Bets

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Trading Down 0.2 %

Shares of NYSE:POR opened at $47.13 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $4.97 billion, a PE ratio of 14.07, a P/E/G ratio of 1.20 and a beta of 0.59. The firm has a fifty day moving average price of $47.38 and a 200 day moving average price of $46.22. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The company had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. During the same period in the prior year, the business earned $0.46 earnings per share. Portland General Electric’s revenue for the quarter was up 15.8% compared to the same quarter last year. Analysts expect that Portland General Electric will post 3.12 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The firm 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 4.24%. Portland General Electric’s payout ratio is currently 59.70%.

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.