Janney Montgomery Scott LLC Purchases New Holdings in Portland General Electric Company (NYSE:POR)

Janney Montgomery Scott LLC purchased a new stake in shares of Portland General Electric Company (NYSE:POR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 29,629 shares of the utilities provider's stock, valued at approximately $1,321,000.

A number of other institutional investors also recently modified their holdings of the company. Arizona State Retirement System boosted its stake in Portland General Electric by 0.8% during the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock valued at $1,305,000 after purchasing an additional 245 shares during the period. Captrust Financial Advisors grew its stake in shares of Portland General Electric by 3.2% in the fourth quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider's stock worth $379,000 after acquiring an additional 269 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of Portland General Electric by 4.2% in the fourth quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider's stock worth $318,000 after acquiring an additional 291 shares during the last quarter. Texas Yale Capital Corp. increased its position in Portland General Electric by 2.6% during the fourth quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider's stock worth $520,000 after acquiring an additional 300 shares during the period. Finally, USA Financial Formulas increased its position in Portland General Electric by 23.1% during the first quarter. USA Financial Formulas now owns 1,994 shares of the utilities provider's stock worth $89,000 after acquiring an additional 374 shares during the period.

Insider Activity at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of Portland General Electric stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the transaction, the executive vice president now owns 32,646 shares in the company, valued at approximately $1,404,430.92. The trade was a 5.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on POR. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and increased their price target for the company from $47.00 to $50.00 in a report on Monday, May 5th. JPMorgan Chase & Co. reduced their target price on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. Barclays lowered their price target on Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. BMO Capital Markets assumed coverage on Portland General Electric in a report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target for the company. Finally, Wall Street Zen raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Portland General Electric presently has an average rating of "Hold" and an average price target of $45.60.

Portland General Electric Price Performance

Shares of POR stock traded down $0.12 during trading hours on Friday, hitting $40.30. The company had a trading volume of 2,863,677 shares, compared to its average volume of 1,050,294. Portland General Electric Company has a 12 month low of $39.55 and a 12 month high of $49.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.94 and a current ratio of 1.06. The firm's fifty day moving average is $41.69 and its 200 day moving average is $42.55. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 3.74 and a beta of 0.57.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Portland General Electric had a net margin of 8.84% and a return on equity of 8.24%. The company had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. During the same quarter last year, the company earned $1.21 earnings per share. The business's revenue was down .1% on a year-over-year basis. On average, sell-side analysts predict that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be given a dividend of $0.525 per share. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.21%. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio (DPR) is 73.94%.

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.