Oppenheimer Asset Management Inc. Sells 287 Shares of Portland General Electric (NYSE:POR)

Oppenheimer Asset Management Inc. lowered its holdings in Portland General Electric (NYSE:POR) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,934 shares of the utilities provider’s stock after selling 287 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Portland General Electric were worth $907,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Allworth Financial LP raised its holdings in shares of Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 265 shares in the last quarter. First Pacific Financial raised its holdings in shares of Portland General Electric by 2.9% in the 3rd quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock valued at $591,000 after purchasing an additional 347 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Portland General Electric by 20.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 413 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Portland General Electric by 94.5% in the 2nd quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 451 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 514 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on POR shares. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays cut their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Evercore ISI started coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on shares of Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $48.86.

Portland General Electric Stock Up 0.3 %

NYSE:POR opened at $46.78 on Tuesday. The company has a market cap of $4.93 billion, a PE ratio of 13.93, a P/E/G ratio of 1.19 and a beta of 0.59. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The company’s 50 day moving average is $47.55 and its two-hundred day moving average is $45.96.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The company had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. Portland General Electric’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. Analysts anticipate that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) is currently 59.70%.

Insider Activity

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. This represents a 14.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

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.