Paloma Partners Management Co Invests $274,000 in Portland General Electric (NYSE:POR)

Paloma Partners Management Co bought a new stake in shares of Portland General Electric (NYSE:POR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,710 shares of the utilities provider’s stock, valued at approximately $274,000.

A number of other large investors also recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its position 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 buying an additional 36,744 shares during the last quarter. Cetera Advisors LLC lifted its stake in Portland General Electric by 231.6% in the 1st 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. Vaughan Nelson Investment Management L.P. bought a new position in shares of Portland General Electric during the 2nd quarter valued at about $31,557,000. Qsemble Capital Management LP purchased a new position in shares of Portland General Electric during the second quarter valued at about $678,000. Finally, Choreo LLC bought a new stake in shares of Portland General Electric in the second quarter worth about $965,000.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. KeyCorp cut their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays reduced 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 research report on Tuesday, October 29th. Bank of America assumed coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group initiated coverage on shares of Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and an average target price of $49.13.

Portland General Electric Price Performance

POR stock opened at $46.46 on Friday. The stock has a market cap of $4.90 billion, a PE ratio of 13.87, a P/E/G ratio of 1.20 and a beta of 0.59. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The company has a 50-day moving average price of $47.35 and a 200 day moving average price of $46.23. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last announced its 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 business had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. Equities research analysts anticipate that Portland General Electric will post 3.12 earnings per share for the current year.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Insiders Place Their Bets

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s 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 transaction, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. This represents a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

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.