LPL Financial LLC Has $2.78 Million Holdings in Portland General Electric Company $POR

LPL Financial LLC grew its stake in Portland General Electric Company (NYSE:POR) by 27.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,299 shares of the utilities provider’s stock after acquiring an additional 13,599 shares during the quarter. LPL Financial LLC owned 0.06% of Portland General Electric worth $2,779,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of POR. Raymond James Financial Inc. bought a new stake in Portland General Electric during the 4th quarter worth approximately $7,181,000. Rockefeller Capital Management L.P. increased its position in Portland General Electric by 13.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 12,741 shares of the utilities provider’s stock worth $556,000 after buying an additional 1,471 shares during the period. Townsquare Capital LLC increased its position in Portland General Electric by 6.9% during the 4th quarter. Townsquare Capital LLC now owns 8,135 shares of the utilities provider’s stock worth $355,000 after buying an additional 528 shares during the period. Barclays PLC increased its position in shares of Portland General Electric by 50.9% in the fourth quarter. Barclays PLC now owns 314,621 shares of the utilities provider’s stock worth $13,724,000 after purchasing an additional 106,133 shares during the period. Finally, Mariner LLC increased its position in shares of Portland General Electric by 20.3% in the fourth quarter. Mariner LLC now owns 19,386 shares of the utilities provider’s stock worth $846,000 after purchasing an additional 3,269 shares during the period.

Insider Activity

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $41.35, for a total value of $107,634.05. Following the completion of the sale, the chief financial officer owned 27,089 shares in the company, valued at approximately $1,120,130.15. This trade represents a 8.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $40.10, for a total value of $77,673.70. Following the completion of the sale, the director owned 13,509 shares of the company’s stock, valued at approximately $541,710.90. This trade represents a 12.54% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Portland General Electric Stock Performance

NYSE:POR opened at $42.40 on Monday. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 3.88 and a beta of 0.55. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97. The business’s fifty day moving average is $41.08 and its 200 day moving average is $42.21. Portland General Electric Company has a 52-week low of $39.54 and a 52-week high of $49.85.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $807.00 million for the quarter, compared to analyst estimates of $797.97 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. Research analysts predict that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be given a dividend of $0.525 per share. The ex-dividend date is Thursday, September 25th. This represents a $2.10 annualized dividend and a dividend yield of 5.0%. Portland General Electric’s dividend payout ratio is 77.49%.

Analyst Upgrades and Downgrades

POR has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Friday, April 25th. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $47.00 to $50.00 in a report on Monday, May 5th. JPMorgan Chase & Co. decreased their price target on Portland General Electric from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, May 19th. BMO Capital Markets began coverage on Portland General Electric in a report on Tuesday, May 13th. They set a “market perform” rating and a $46.00 price target for the company. Finally, KeyCorp cut Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 price objective on the stock. in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.40.

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.