LPL Financial LLC Has $2.12 Million Position in Portland General Electric (NYSE:POR)

LPL Financial LLC lifted its position in Portland General Electric (NYSE:POR) by 33.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,700 shares of the utilities provider’s stock after acquiring an additional 12,265 shares during the period. LPL Financial LLC’s holdings in Portland General Electric were worth $2,124,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of POR. Newbridge Financial Services Group Inc. bought a new position in shares of Portland General Electric during the 4th quarter valued at about $29,000. Versant Capital Management Inc lifted its stake in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after buying an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after buying an additional 769 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Portland General Electric by 352.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 1,096 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Portland General Electric during the fourth quarter worth $71,000.

Portland General Electric Stock Performance

NYSE POR opened at $43.22 on Tuesday. The firm has a market capitalization of $4.73 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm’s fifty day moving average price is $43.38 and its two-hundred day moving average price is $44.56. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The company had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same period in the previous year, the business earned $0.67 EPS. As a group, research analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.63%. Portland General Electric’s dividend payout ratio is currently 66.45%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on POR shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $44.00 target price (down previously from $50.00) on shares of Portland General Electric in a report on Thursday, April 10th. Bank of America decreased their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. Jefferies Financial Group cut their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Evercore ISI raised their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.78.

Insider Buying and Selling

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.40% of the stock is owned by 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.