Portland General Electric (NYSE:POR) Holdings Raised by Benjamin Edwards Inc.

Benjamin Edwards Inc. grew its position in Portland General Electric (NYSE:POR) by 55.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,304 shares of the utilities provider’s stock after acquiring an additional 1,888 shares during the quarter. Benjamin Edwards Inc.’s holdings in Portland General Electric were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in POR. Fifth Third Bancorp increased 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 valued at $27,000 after acquiring an additional 409 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Portland General Electric during the 4th quarter valued at approximately $33,000. Allworth Financial LP boosted its position 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 purchasing an additional 261 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new position in Portland General Electric during the 4th quarter valued at approximately $38,000. Finally, GAMMA Investing LLC acquired a new position in Portland General Electric during the 4th quarter valued at approximately $38,000.

Portland General Electric Trading Up 0.7 %

Shares of Portland General Electric stock traded up $0.29 on Friday, reaching $43.77. 1,500,483 shares of the company were exchanged, compared to its average volume of 967,685. The stock has a fifty day moving average price of $41.61 and a 200-day moving average price of $41.57. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 16.77 and a beta of 0.56. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $51.58. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.09 by $0.12. The company had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $828.94 million. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the firm earned $0.80 EPS. On average, analysts expect that Portland General Electric will post 3.07 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 21st. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.57%. Portland General Electric’s payout ratio is 72.80%.

Insider Buying and Selling

In related news, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the sale, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at $1,297,170. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $47.00 to $45.00 in a research report on Monday, January 29th. Bank of America lowered Portland General Electric from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $55.00 to $43.00 in a research report on Monday, February 5th. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday. Barclays reduced their price target on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Finally, Mizuho reiterated a “neutral” rating and set a $42.00 price target (down previously from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Portland General Electric currently has an average rating of “Moderate Buy” and an average target price of $45.13.

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.