Portland General Electric (NYSE:POR) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC trimmed its stake in Portland General Electric (NYSE:POR) by 48.1% during the third quarter, HoldingsChannel.com reports. The fund owned 678 shares of the utilities provider’s stock after selling 629 shares during the period. LGT Financial Advisors LLC’s holdings in Portland General Electric were worth $32,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of POR. V Square Quantitative Management LLC acquired a new position in shares of Portland General Electric in the 3rd quarter valued at $25,000. LRI Investments LLC acquired a new position in shares of Portland General Electric in the first quarter worth about $26,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Portland General Electric by 767.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after buying an additional 514 shares during the period. Allworth Financial LP increased its position in shares of Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 265 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Portland General Electric during the second quarter valued at approximately $33,000.

Portland General Electric Stock Up 1.0 %

Shares of Portland General Electric stock opened at $47.19 on Thursday. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 1.18 and a beta of 0.59. The stock has a 50-day simple moving average of $47.76 and a 200-day simple moving average of $45.78. Portland General Electric has a 52-week low of $39.13 and a 52-week high of $49.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. During the same period in the previous year, the company earned $0.46 earnings per share. The company’s revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts expect that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be given a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.24%. Portland General Electric’s dividend payout ratio is currently 59.70%.

Insider Buying and Selling

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction that occurred 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 transaction, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

POR has been the subject of a number of recent analyst reports. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Jefferies Financial Group began coverage on Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 price target on the stock. Evercore ISI assumed coverage on Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $48.13.

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.