Keudell Morrison Wealth Management Sells 669 Shares of Portland General Electric (NYSE:POR)

Keudell Morrison Wealth Management lessened its stake in shares of Portland General Electric (NYSE:POR) by 5.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,900 shares of the utilities provider’s stock after selling 669 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Portland General Electric were worth $570,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of POR. V Square Quantitative Management LLC bought a new stake in shares of Portland General Electric in the third quarter worth $25,000. LRI Investments LLC bought a new stake in shares of Portland General Electric in the first quarter worth $26,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Portland General Electric by 767.2% in 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 last quarter. Allworth Financial LP grew its stake in shares of Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 265 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Portland General Electric in the second quarter valued at $33,000.

Insider Transactions at Portland General Electric

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

Portland General Electric Stock Down 0.7 %

Shares of NYSE POR traded down $0.34 during trading on Thursday, hitting $46.85. 77,357 shares of the company traded hands, compared to its average volume of 950,639. The business’s fifty day moving average is $47.76 and its 200 day moving average is $45.78. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 1.18 and a beta of 0.59. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities research analysts predict that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 4.27%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s payout ratio is presently 59.70%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on POR shares. Evercore ISI started coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Jefferies Financial Group started coverage on shares of Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 target price on the stock. Bank of America started 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 on the stock. Finally, KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and an average target price of $48.13.

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.