Algert Global LLC Boosts Holdings in Portland General Electric (NYSE:POR)

Algert Global LLC grew its position in Portland General Electric (NYSE:POR) by 32.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 216,367 shares of the utilities provider’s stock after acquiring an additional 52,710 shares during the quarter. Algert Global LLC owned about 0.21% of Portland General Electric worth $10,364,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in POR. Allworth Financial LP raised 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 worth $30,000 after purchasing an additional 265 shares during the period. First Pacific Financial lifted its stake in shares of Portland General Electric by 2.9% during the 3rd quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock worth $591,000 after acquiring an additional 347 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Portland General Electric by 20.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 413 shares during the period. Blue Trust Inc. grew its position in 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 acquiring an additional 451 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in 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 purchasing an additional 514 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on POR shares. Jefferies Financial Group initiated coverage on shares of Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 price target on the stock. Bank of America initiated coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price on the stock. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays reduced their price objective on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Finally, Evercore ISI began coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.86.

Portland General Electric Trading Down 0.1 %

Shares of NYSE:POR opened at $47.57 on Friday. The company has a market capitalization of $5.02 billion, a PE ratio of 14.20, a P/E/G ratio of 1.21 and a beta of 0.59. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.85. The business’s fifty day simple moving average is $47.47 and its 200-day simple moving average is $46.02.

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 the consensus estimate of $0.89 by $0.01. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm’s quarterly 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 earnings per share. As a group, equities research analysts predict that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.20%. Portland General Electric’s dividend payout ratio (DPR) is 59.70%.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. This trade represents a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

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.