EP Wealth Advisors LLC Makes New $302,000 Investment in Portland General Electric (NYSE:POR)

EP Wealth Advisors LLC acquired a new position in shares of Portland General Electric (NYSE:POR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,916 shares of the utilities provider's stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in Portland General Electric by 114.1% during the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock worth $7,289,000 after buying an additional 81,701 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Portland General Electric in the 4th quarter valued at $32,553,000. Park Avenue Securities LLC increased its holdings in shares of Portland General Electric by 24.0% in the 4th quarter. Park Avenue Securities LLC now owns 20,862 shares of the utilities provider's stock valued at $910,000 after acquiring an additional 4,044 shares during the period. USA Financial Formulas purchased a new position in Portland General Electric in the 4th quarter valued at $71,000. Finally, Trust Co. of Vermont boosted its position in shares of Portland General Electric by 5.8% during the 4th quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider's stock worth $372,000 after purchasing an additional 465 shares in the last quarter.

Insiders Place Their Bets

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the sale, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. This represents a 5.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,795 shares of company stock valued at $159,946. 0.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on POR. Wells Fargo & Company decreased their price objective on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $44.00 target price (down from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. Jefferies Financial Group dropped their price target on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Evercore ISI lowered their price target on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Finally, LADENBURG THALM/SH SH cut Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Portland General Electric has a consensus rating of "Hold" and a consensus target price of $45.40.

Portland General Electric Stock Up 0.3%

Shares of Portland General Electric stock opened at $42.59 on Tuesday. The stock has a 50-day simple moving average of $43.12 and a 200-day simple moving average of $43.85. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 1.11 and a beta of 0.57.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The business had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business's quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 earnings per share. On average, equities research analysts expect that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 4.93%. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. Portland General Electric's dividend payout ratio is 73.94%.

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.

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