Portland General Electric (NYSE:POR) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC grew its stake in shares of Portland General Electric (NYSE:POR) by 11.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 54,833 shares of the utilities provider’s stock after acquiring an additional 5,712 shares during the period. MML Investors Services LLC owned about 0.05% of Portland General Electric worth $2,627,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Portland General Electric in the 3rd quarter valued at approximately $25,000. Allworth Financial LP raised its stake in Portland General Electric by 74.4% during 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 during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Portland General Electric in the second quarter valued at $33,000. Blue Trust Inc. boosted its position in shares of Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock worth $39,000 after buying an additional 451 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Portland General Electric during the second quarter valued at $40,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. KeyCorp reduced their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Jefferies Financial Group began 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 target for the company. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price 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. Finally, Bank of America initiated coverage on shares of Portland General Electric in a report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $49.13.

Portland General Electric Trading Down 0.1 %

Shares of NYSE:POR opened at $44.48 on Monday. 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 stock has a market capitalization of $4.69 billion, a PE ratio of 13.28, a P/E/G ratio of 1.13 and a beta of 0.59. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85. The firm has a fifty day moving average price of $47.09 and a 200 day moving average price of $46.31.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The business had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same quarter in the prior year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. Analysts expect that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is currently 59.70%.

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.