Portland General Electric (NYSE:POR) Shares Sold by Barclays PLC

Barclays PLC decreased its holdings in Portland General Electric (NYSE:POR) by 46.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 208,488 shares of the utilities provider’s stock after selling 184,076 shares during the quarter. Barclays PLC’s holdings in Portland General Electric were worth $9,985,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Portland General Electric during the 3rd quarter valued at approximately $596,000. MML Investors Services LLC lifted its holdings in Portland General Electric by 11.6% during the third quarter. MML Investors Services LLC now owns 54,833 shares of the utilities provider’s stock valued at $2,627,000 after purchasing an additional 5,712 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Portland General Electric by 47.3% in the third quarter. Orion Portfolio Solutions LLC now owns 52,840 shares of the utilities provider’s stock valued at $2,531,000 after purchasing an additional 16,969 shares during the period. XTX Topco Ltd purchased a new stake in shares of Portland General Electric during the third quarter worth about $471,000. Finally, Zacks Investment Management raised its position in shares of Portland General Electric by 15.2% during the 3rd quarter. Zacks Investment Management now owns 208,279 shares of the utilities provider’s stock worth $9,977,000 after purchasing an additional 27,452 shares during the last quarter.

Portland General Electric Stock Down 0.5 %

NYSE POR opened at $44.25 on Tuesday. The business’s fifty day simple moving average is $47.09 and its 200-day simple moving average is $46.31. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The firm has a market cap of $4.67 billion, a PE ratio of 13.21, a P/E/G ratio of 1.13 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.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The company 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%. Portland General Electric’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 earnings per share. As a group, equities analysts anticipate that Portland General Electric will post 3.11 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. Investors of record on Tuesday, December 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is presently 59.70%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on POR shares. Barclays lowered their price objective on 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. Jefferies Financial Group assumed coverage on Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Evercore ISI assumed coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. Finally, StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. One equities research 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $49.13.

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.