Portland General Electric (NYSE:POR) Position Decreased by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its holdings in Portland General Electric (NYSE:POR) by 15.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,581 shares of the utilities provider’s stock after selling 2,684 shares during the quarter. Advisors Asset Management Inc.’s holdings in Portland General Electric were worth $698,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Portland General Electric in the third quarter valued at $25,000. Massmutual Trust Co. FSB ADV raised its position in shares of Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 514 shares during the period. Allworth Financial LP lifted its holdings in shares of Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 265 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Portland General Electric in the 2nd quarter valued at $33,000. Finally, Blue Trust Inc. increased its stake in Portland General Electric by 94.5% in the 2nd quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 451 shares in the last quarter.

Portland General Electric Price Performance

POR opened at $47.71 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. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85. The stock has a fifty day moving average price of $47.43 and a 200 day moving average price of $46.10. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.21 and a beta of 0.59.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 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 analysts’ expectations of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. Analysts forecast that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Announces Dividend

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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s payout ratio is presently 59.70%.

Insider Buying and Selling

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. The trade was a 14.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Evercore ISI initiated coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price objective for the company. Barclays decreased 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 note on Tuesday, October 29th. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. raised their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Bank of America initiated coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.86.

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.