Portland General Electric (NYSE:POR) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC trimmed its holdings in shares of Portland General Electric (NYSE:POR) by 48.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678 shares of the utilities provider’s stock after selling 629 shares during the period. LGT Financial Advisors LLC’s holdings in Portland General Electric were worth $32,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allworth Financial LP grew its stake in Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 265 shares during the period. First Pacific Financial boosted its holdings in shares of Portland General Electric by 2.9% during the third quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock worth $591,000 after purchasing an additional 347 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Portland General Electric by 20.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 413 shares during the period. Blue Trust Inc. increased its stake in Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 451 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in 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 buying an additional 514 shares during the period.

Portland General Electric Stock Performance

NYSE:POR opened at $47.19 on Thursday. The firm has a 50-day moving average of $47.76 and a two-hundred day moving average of $45.78. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The stock has a market cap of $4.98 billion, a P/E ratio of 14.09, a PEG ratio of 1.18 and a beta of 0.59. 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 issued its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The firm 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%. Portland General Electric’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. On average, research analysts expect that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.24%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is currently 59.70%.

Insider Activity

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on POR. Barclays lowered their price target on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Bank of America assumed 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 for the company. Evercore ISI began 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 target on the stock. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. upped their price objective on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and a consensus price target of $48.13.

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.