Creative Planning Raises Stake in Portland General Electric Company $POR

Creative Planning grew its position in Portland General Electric Company (NYSE:POR) by 10.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,225 shares of the utilities provider’s stock after purchasing an additional 3,133 shares during the quarter. Creative Planning’s holdings in Portland General Electric were worth $1,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of POR. SG Americas Securities LLC boosted its holdings in Portland General Electric by 876.7% in the 2nd quarter. SG Americas Securities LLC now owns 36,254 shares of the utilities provider’s stock worth $1,473,000 after buying an additional 32,542 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Portland General Electric by 6.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 211,472 shares of the utilities provider’s stock worth $8,592,000 after acquiring an additional 11,923 shares during the period. Intrua Financial LLC bought a new position in shares of Portland General Electric in the second quarter worth about $291,000. Police & Firemen s Retirement System of New Jersey grew its position in shares of Portland General Electric by 11.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 24,811 shares of the utilities provider’s stock worth $1,008,000 after purchasing an additional 2,597 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Portland General Electric by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,764,380 shares of the utilities provider’s stock valued at $112,337,000 after purchasing an additional 110,567 shares during the period.

Portland General Electric Price Performance

POR stock opened at $50.82 on Friday. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $51.14. The firm has a market capitalization of $5.72 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 4.18 and a beta of 0.67. The company has a fifty day simple moving average of $46.24 and a two-hundred day simple moving average of $43.24. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last announced its earnings results on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The firm had revenue of $952.00 million for the quarter, compared to analysts’ expectations of $975.64 million. During the same period in the prior year, the company earned $0.90 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. Analysts anticipate that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, December 22nd. Portland General Electric’s dividend payout ratio (DPR) is presently 76.36%.

Insider Activity at Portland General Electric

In other news, CEO Maria M. Pope sold 18,896 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total transaction of $803,080.00. Following the transaction, the chief executive officer owned 194,135 shares of the company’s stock, valued at approximately $8,250,737.50. The trade was a 8.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on POR shares. Mizuho set a $47.00 price target on Portland General Electric in a research note on Monday, November 3rd. Barclays upped their target price on shares of Portland General Electric from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Portland General Electric in a report on Tuesday. Wells Fargo & Company assumed coverage on shares of Portland General Electric in a research note on Monday, October 27th. They issued an “equal weight” rating and a $45.00 price target on the stock. Finally, Zacks Research raised shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Portland General Electric currently has an average rating of “Hold” and a consensus target price of $46.92.

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.