Portland General Electric Company $POR Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers decreased its holdings in Portland General Electric Company (NYSE:POR) by 13.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,161 shares of the utilities provider’s stock after selling 6,984 shares during the quarter. Cetera Investment Advisers’ holdings in Portland General Electric were worth $1,876,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. IFP Advisors Inc increased its holdings in shares of Portland General Electric by 1,291.7% in the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 620 shares in the last quarter. S.A. Mason LLC acquired a new position in Portland General Electric during the second quarter worth about $29,000. Tompkins Financial Corp increased its holdings in Portland General Electric by 83.3% in the second quarter. Tompkins Financial Corp now owns 1,100 shares of the utilities provider’s stock valued at $45,000 after buying an additional 500 shares in the last quarter. Costello Asset Management INC acquired a new stake in shares of Portland General Electric during the 1st quarter valued at approximately $46,000. Finally, Ransom Advisory Ltd purchased a new stake in shares of Portland General Electric during the 1st quarter worth approximately $52,000.

Portland General Electric Stock Performance

Portland General Electric stock opened at $50.82 on Monday. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $51.14. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 4.18 and a beta of 0.67. The stock has a fifty day moving average of $46.24 and a two-hundred day moving average of $43.27. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97.

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

Portland General Electric Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on POR shares. Mizuho set a $47.00 price objective on Portland General Electric in a research note on Monday, November 3rd. BTIG Research raised Portland General Electric to a “strong-buy” rating in a report on Wednesday, October 22nd. Jefferies Financial Group lifted their price target on Portland General Electric from $43.00 to $46.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. UBS Group reiterated a “neutral” rating and issued a $51.00 price objective on shares of Portland General Electric in a research report on Wednesday, November 19th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Portland General Electric in a research note on Tuesday, November 25th. One research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.92.

Insider Activity

In related news, CEO Maria M. Pope sold 18,896 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were 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. This represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.40% of the company’s stock.

Portland General Electric 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.