Covestor Ltd Has $222,000 Stake in Portland General Electric (NYSE:POR)

Covestor Ltd increased its holdings in shares of Portland General Electric (NYSE:POR) by 21.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,081 shares of the utilities provider’s stock after purchasing an additional 903 shares during the period. Covestor Ltd’s holdings in Portland General Electric were worth $222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Y Intercept Hong Kong Ltd bought a new position in Portland General Electric in the third quarter valued at approximately $596,000. Nordea Investment Management AB lifted its position in Portland General Electric by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock valued at $43,058,000 after acquiring an additional 19,057 shares in the last quarter. Franklin Resources Inc. lifted its position in Portland General Electric by 114.1% in the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after acquiring an additional 81,701 shares in the last quarter. Synergy Asset Management LLC increased its holdings in Portland General Electric by 260.6% during the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock worth $5,096,000 after purchasing an additional 82,743 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Portland General Electric by 3.7% in the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider’s stock valued at $6,166,000 after purchasing an additional 5,084 shares during the period.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value 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. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.40% of the company’s stock.

Portland General Electric Trading Down 1.6 %

Shares of POR stock traded down $0.68 on Thursday, hitting $41.60. The company had a trading volume of 281,481 shares, compared to its average volume of 1,025,654. The firm has a market cap of $4.56 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.11 and a beta of 0.49. The stock’s 50-day moving average is $43.30 and its two-hundred day moving average is $44.69. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. 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 posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same quarter last year, the firm posted $0.67 EPS. On average, equities research analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s payout ratio is 66.45%.

Analyst Ratings Changes

POR has been the subject of several recent research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $44.00 price objective (down from $50.00) on shares of Portland General Electric in a research report on Thursday. Barclays raised their price target on shares of 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. LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Tuesday, February 18th. Evercore ISI lifted their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Bank of America reduced their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Portland General Electric currently has an average rating of “Hold” and a consensus price target of $45.78.

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.