Farther Finance Advisors LLC Buys 811 Shares of Portland General Electric (NYSE:POR)

Farther Finance Advisors LLC raised its stake in shares of Portland General Electric (NYSE:POR) by 9.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,714 shares of the utilities provider’s stock after acquiring an additional 811 shares during the quarter. Farther Finance Advisors LLC’s holdings in Portland General Electric were worth $424,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its holdings in Portland General Electric by 1.6% during the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after buying an additional 66,438 shares in the last quarter. Geode Capital Management LLC raised its holdings in Portland General Electric by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock valued at $117,114,000 after buying an additional 25,332 shares in the last quarter. Zimmer Partners LP raised its holdings in Portland General Electric by 107.0% during the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after buying an additional 952,214 shares in the last quarter. Channing Capital Management LLC raised its holdings in Portland General Electric by 7.2% during the fourth quarter. Channing Capital Management LLC now owns 1,831,864 shares of the utilities provider’s stock valued at $79,906,000 after buying an additional 123,223 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Portland General Electric by 8.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider’s stock worth $74,863,000 after purchasing an additional 138,831 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on POR shares. Barclays lifted their price objective on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. KeyCorp dropped their price objective 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. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. Jefferies Financial Group dropped their price objective 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. Finally, UBS Group reiterated a “neutral” rating and issued a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $47.00.

Portland General Electric Stock Up 1.4 %

POR stock opened at $44.94 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The business’s 50-day simple moving average is $42.58 and its 200 day simple moving average is $45.32. The company has a market cap of $4.92 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. Portland General Electric has a twelve month low of $40.05 and a twelve month 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $824.00 million for 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 previous year, the business earned $0.67 earnings per share. On average, research analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date is Monday, March 24th. Portland General Electric’s payout ratio is 66.45%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.40% 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.