Portland General Electric (NYSE:POR) Shares Purchased by Connable Office Inc.

Connable Office Inc. boosted its stake in Portland General Electric (NYSE:POR) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,339 shares of the utilities provider’s stock after purchasing an additional 523 shares during the period. Connable Office Inc.’s holdings in Portland General Electric were worth $233,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. purchased a new position in Portland General Electric in the 4th quarter valued at about $29,000. Allworth Financial LP boosted its position in 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 buying an additional 265 shares during the last quarter. Versant Capital Management Inc boosted its position in Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after buying an additional 450 shares during the last quarter. USA Financial Formulas purchased a new position in Portland General Electric in the 4th quarter valued at about $71,000. Finally, International Assets Investment Management LLC boosted its position in Portland General Electric by 4,690.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock valued at $96,000 after buying an additional 1,970 shares during the last quarter.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s stock in a transaction that occurred on 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 owns 31,960 shares in the company, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Bank of America reduced their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. UBS Group reaffirmed a “neutral” rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Evercore ISI increased their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and an average target price of $46.44.

Portland General Electric Stock Performance

Shares of NYSE POR opened at $44.85 on Friday. 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 firm’s 50-day moving average price is $42.42 and its two-hundred day moving average price is $45.53. Portland General Electric has a 52-week low of $39.49 and a 52-week high of $49.85. The stock has a market capitalization of $4.90 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.11 and a beta of 0.61.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $716.17 million. During the same quarter last year, the company posted $0.67 earnings per share. As a group, sell-side analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.46%. Portland General Electric’s payout ratio is currently 66.45%.

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.