5,906 Shares in Portland General Electric (NYSE:POR) Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC acquired a new position in shares of Portland General Electric (NYSE:POR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,906 shares of the utilities provider’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Metropolitan Life Insurance Co NY grew its position in Portland General Electric by 4.4% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 5,617 shares of the utilities provider’s stock worth $275,000 after acquiring an additional 237 shares during the last quarter. Allworth Financial LP grew its position in shares of Portland General Electric by 44.0% in the 3rd quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock valued at $35,000 after buying an additional 261 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Portland General Electric by 6.4% in the 1st quarter. Captrust Financial Advisors now owns 4,394 shares of the utilities provider’s stock valued at $244,000 after buying an additional 264 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Portland General Electric by 0.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 34,001 shares of the utilities provider’s stock valued at $1,477,000 after buying an additional 268 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in shares of Portland General Electric by 0.7% in the 4th quarter. Baird Financial Group Inc. now owns 41,436 shares of the utilities provider’s stock valued at $2,030,000 after buying an additional 268 shares during the last quarter.

Portland General Electric Stock Up 2.6 %

Shares of Portland General Electric stock opened at $42.83 on Friday. Portland General Electric has a one year low of $38.01 and a one year high of $51.58. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.84 and a quick ratio of 0.74. The stock’s 50-day moving average is $41.03 and its 200 day moving average is $41.37. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 18.38 and a beta of 0.57.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, February 16th. The utilities provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $725.00 million for the quarter, compared to analyst estimates of $740.21 million. During the same period last year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Portland General Electric will post 3.07 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be paid a dividend of $0.50 per share. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 4.67%. Portland General Electric’s dividend payout ratio is 81.55%.

Analyst Upgrades and Downgrades

A number of research firms have commented on POR. Bank of America lowered Portland General Electric from a “buy” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $43.00 in a research report on Monday, February 5th. Mizuho reiterated a “neutral” rating and issued a $42.00 price target (down previously from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and reduced their price target for the company from $47.00 to $45.00 in a research report on Monday, January 29th. StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Finally, Barclays cut their target price on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. One 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.13.

Insider Buying and Selling

In related news, COO Benjamin Felton sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now owns 31,950 shares in the company, valued at approximately $1,297,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is owned by company insiders.

About Portland General Electric

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.