Wetzel Investment Advisors Inc. Invests $221,000 in Portland General Electric (NYSE:POR)

Wetzel Investment Advisors Inc. acquired a new position in Portland General Electric (NYSE:POR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,100 shares of the utilities provider’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp boosted its holdings in shares of Portland General Electric by 181.8% in the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 409 shares in the last quarter. Spirit of America Management Corp NY purchased a new position in shares of Portland General Electric in the 3rd quarter worth about $32,000. BKM Wealth Management LLC purchased a new position in shares of Portland General Electric in the 4th quarter worth about $33,000. Allworth Financial LP boosted its holdings in Portland General Electric by 44.0% during the 3rd quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 261 shares during the period. Finally, IMA Wealth Inc. boosted its holdings in Portland General Electric by 100.0% during the 2nd quarter. IMA Wealth Inc. now owns 786 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 393 shares during the period.

Portland General Electric Stock Up 2.5 %

Shares of NYSE:POR traded up $1.06 during trading on Friday, hitting $42.80. The stock had a trading volume of 900,248 shares, compared to its average volume of 835,578. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $51.58. The company has a market capitalization of $4.33 billion, a PE ratio of 18.37 and a beta of 0.57. The firm’s fifty day moving average is $41.09 and its 200 day moving average is $41.40. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.26.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, February 16th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.20). Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The firm had revenue of $725.00 million during the quarter, compared to the consensus estimate of $740.21 million. During the same period in the prior year, the company posted $0.70 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. Analysts anticipate that Portland General Electric will post 3.07 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.67%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s dividend payout ratio is presently 81.55%.

Analyst Ratings Changes

POR has been the subject of several analyst reports. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and dropped their target price for the company from $55.00 to $43.00 in a report on Monday, February 5th. Barclays dropped their target price on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and dropped their target price for the company from $47.00 to $45.00 in a report on Monday, January 29th. Mizuho restated a “neutral” rating and set a $42.00 target price (down from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. Finally, StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.13.

Insider Buying and Selling

In related news, COO Benjamin Felton sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now owns 31,950 shares in the company, valued at approximately $1,297,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is currently owned by company insiders.

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.