884 Shares in Portland General Electric (NYSE:POR) Acquired by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. bought a new position in shares of Portland General Electric (NYSE:PORFree Report) during the fourth quarter, Holdings Channel reports. The fund bought 884 shares of the utilities provider’s stock, valued at approximately $38,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of POR. Comerica Bank increased its holdings in shares of Portland General Electric by 309.9% in the 3rd quarter. Comerica Bank now owns 174,052 shares of the utilities provider’s stock worth $7,046,000 after buying an additional 131,589 shares during the last quarter. Scharf Investments LLC bought a new position in shares of Portland General Electric in the 4th quarter worth $3,037,000. Versor Investments LP increased its holdings in shares of Portland General Electric by 55.2% in the 3rd quarter. Versor Investments LP now owns 13,806 shares of the utilities provider’s stock worth $559,000 after buying an additional 4,911 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Portland General Electric by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 624,905 shares of the utilities provider’s stock valued at $25,296,000 after purchasing an additional 13,952 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Portland General Electric by 92.2% in the 3rd quarter. Hsbc Holdings PLC now owns 135,507 shares of the utilities provider’s stock valued at $5,476,000 after purchasing an additional 64,987 shares in the last quarter.

Portland General Electric Trading Up 0.8 %

Shares of POR opened at $42.00 on Friday. The stock has a market capitalization of $4.25 billion, a P/E ratio of 18.03, a PEG ratio of 2.67 and a beta of 0.57. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.26. The firm has a fifty day simple moving average of $40.80 and a two-hundred day simple moving average of $41.53. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $51.58.

Portland General Electric (NYSE:PORGet Free Report) last posted its earnings results on Friday, February 16th. The utilities provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.20). Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The company had revenue of $725.00 million during the quarter, compared to analysts’ expectations of $740.21 million. During the same period in the prior year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Portland General Electric will post 3.06 EPS for the current year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 22nd will be given a $0.475 dividend. The ex-dividend date is Thursday, March 21st. This represents a $1.90 annualized dividend and a dividend yield of 4.52%. Portland General Electric’s dividend payout ratio is 81.55%.

Wall Street Analyst Weigh In

POR has been the subject of a number of research reports. StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Bank of America cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and cut their price objective for the company from $55.00 to $43.00 in a research note on Monday, February 5th. Barclays cut their price objective on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and cut their price objective for the company from $47.00 to $45.00 in a research note on Monday, January 29th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.13.

View Our Latest Stock Report on Portland General Electric

Portland General Electric Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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