Focus Partners Wealth Takes $340,000 Position in Portland General Electric (NYSE:POR)

Focus Partners Wealth bought a new stake in Portland General Electric (NYSE:POR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,795 shares of the utilities provider's stock, valued at approximately $340,000.

A number of other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in Portland General Electric during the 4th quarter valued at $62,004,000. Fuller & Thaler Asset Management Inc. boosted its stake in Portland General Electric by 19.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock valued at $172,720,000 after acquiring an additional 635,987 shares during the last quarter. Vanguard Group Inc. grew its stake in Portland General Electric by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock worth $519,651,000 after purchasing an additional 572,531 shares in the last quarter. OLD Republic International Corp bought a new stake in Portland General Electric in the fourth quarter valued at about $22,464,000. Finally, Brandywine Global Investment Management LLC increased its holdings in Portland General Electric by 1,510.2% in the fourth quarter. Brandywine Global Investment Management LLC now owns 359,126 shares of the utilities provider's stock valued at $15,665,000 after buying an additional 336,823 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on POR. Evercore ISI lowered their price objective on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, April 28th. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and boosted their price target for the company from $47.00 to $50.00 in a report on Monday, May 5th. KeyCorp downgraded Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target for the company. in a report on Wednesday, May 14th. Wells Fargo & Company lowered their price target on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Portland General Electric currently has a consensus rating of "Hold" and an average price target of $45.60.

Insider Buying and Selling 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 transaction of $79,371.90. Following the sale, the executive vice president now owns 32,646 shares of the company's stock, valued at $1,404,430.92. The trade was a 5.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is owned by company insiders.

Portland General Electric Stock Performance

NYSE:POR traded up $0.23 during midday trading on Friday, reaching $41.97. 1,190,746 shares of the company traded hands, compared to its average volume of 1,026,158. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. 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 company has a fifty day moving average price of $42.70 and a 200 day moving average price of $43.55.

Portland General Electric (NYSE:POR - Get Free Report) last released 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 firm had revenue of $928.00 million for 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 firm's revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 EPS. On average, analysts expect that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a $0.525 dividend. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 annualized dividend and a dividend yield of 5.00%. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio (DPR) is presently 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.