Portland General Electric (NYSE:POR) Shares Bought by Connable Office Inc.

Connable Office Inc. grew its holdings in shares of Portland General Electric (NYSE:POR) by 10.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,339 shares of the utilities provider’s stock after purchasing an additional 523 shares during the period. Connable Office Inc.’s holdings in Portland General Electric were worth $233,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of Portland General Electric during the 3rd quarter worth approximately $596,000. Nordea Investment Management AB boosted its stake in shares of Portland General Electric by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock worth $43,058,000 after acquiring an additional 19,057 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Portland General Electric by 114.1% during the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock worth $7,289,000 after acquiring an additional 81,701 shares in the last quarter. Synergy Asset Management LLC boosted its stake in shares of Portland General Electric by 260.6% during the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock worth $5,096,000 after acquiring an additional 82,743 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in Portland General Electric by 14.2% in the 3rd quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock valued at $4,114,000 after buying an additional 10,643 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on POR shares. Evercore ISI upped their target price on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. UBS Group reaffirmed a “neutral” rating and issued a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Barclays reduced their target price on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. KeyCorp reduced their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group reduced their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Portland General Electric currently has an average rating of “Hold” and an average price target of $46.44.

Portland General Electric Trading Up 1.7 %

Shares of POR opened at $44.85 on Friday. The stock has a fifty day moving average of $42.42 and a two-hundred day moving average of $45.53. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The company has a market capitalization of $4.90 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.11 and a beta of 0.61. Portland General Electric has a fifty-two week low of $39.49 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same period in the prior year, the firm posted $0.67 EPS. As a group, analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.46%. Portland General Electric’s payout ratio is 66.45%.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.54% of the company’s stock.

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.