Cerity Partners LLC Has $1.66 Million Stock Holdings in Portland General Electric (NYSE:POR)

Cerity Partners LLC cut its position in Portland General Electric (NYSE:POR) by 6.3% during the 4th quarter, HoldingsChannel reports. The firm owned 38,387 shares of the utilities provider’s stock after selling 2,595 shares during the quarter. Cerity Partners LLC’s holdings in Portland General Electric were worth $1,664,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of POR. Alliancebernstein L.P. raised its holdings in Portland General Electric by 1,022.6% in the second quarter. Alliancebernstein L.P. now owns 3,105,863 shares of the utilities provider’s stock worth $145,448,000 after purchasing an additional 2,829,184 shares during the period. Goldman Sachs Group Inc. raised its holdings in Portland General Electric by 86.9% in the second quarter. Goldman Sachs Group Inc. now owns 2,554,741 shares of the utilities provider’s stock worth $119,639,000 after purchasing an additional 1,187,890 shares during the period. Wellington Management Group LLP increased its position in shares of Portland General Electric by 21.8% during the first quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider’s stock worth $334,647,000 after acquiring an additional 1,087,996 shares in the last quarter. State Street Corp increased its position in shares of Portland General Electric by 37.2% during the second quarter. State Street Corp now owns 3,339,567 shares of the utilities provider’s stock worth $162,473,000 after acquiring an additional 905,308 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Portland General Electric by 927.0% during the fourth quarter. Millennium Management LLC now owns 970,767 shares of the utilities provider’s stock worth $47,568,000 after acquiring an additional 876,246 shares in the last quarter.

Portland General Electric Stock Up 2.6 %

Portland General Electric stock opened at $42.83 on Friday. The company has a market cap of $4.33 billion, a P/E ratio of 18.38 and a beta of 0.57. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $51.58. The company has a fifty day simple moving average of $41.03 and a 200 day simple moving average of $41.37. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26.

Portland General Electric (NYSE:POR) last released its 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 net margin of 7.80% and a return on equity of 7.21%. The business had revenue of $725.00 million during the quarter, compared to the consensus estimate of $740.21 million. During the same period last year, the business posted $0.70 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts anticipate that Portland General Electric will post 3.07 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on POR. StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Mizuho reissued a “neutral” rating and set a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. Barclays lowered 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 report on Wednesday, February 21st. Bank of America downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $55.00 to $43.00 in a research report on Monday, February 5th. Finally, UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $47.00 to $45.00 in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.13.

Insider Activity

In other news, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the transaction, the chief operating officer now owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.