Focus Partners Wealth Buys New Holdings in Portland General Electric (NYSE:POR)

Focus Partners Wealth acquired a new stake in Portland General Electric (NYSE:POR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,795 shares of the utilities provider's stock, valued at approximately $340,000.

A number of other hedge funds have also recently modified their holdings of POR. Newbridge Financial Services Group Inc. purchased a new stake in shares of Portland General Electric in the fourth quarter valued at about $29,000. Cullen Frost Bankers Inc. grew its holdings in shares of Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 769 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Portland General Electric in the fourth quarter valued at about $52,000. EverSource Wealth Advisors LLC grew its holdings in shares of Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after purchasing an additional 1,096 shares during the period. Finally, Quarry LP grew its holdings in shares of Portland General Electric by 110.4% in the fourth quarter. Quarry LP now owns 1,471 shares of the utilities provider's stock valued at $64,000 after purchasing an additional 772 shares during the period.

Analyst Ratings Changes

POR has been the subject of a number of analyst reports. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective for the company. in a report on Tuesday, February 18th. Jefferies Financial Group lowered their target price on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. BMO Capital Markets assumed coverage on shares of Portland General Electric in a research note on Tuesday, May 13th. They set a "market perform" rating and a $46.00 target price for the company. KeyCorp lowered shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price for the company. in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. lowered 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $45.60.

Insider Transactions at Portland General Electric

In related news, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value 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. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.40% of the company's stock.

Portland General Electric Stock Up 2.2%

Shares of POR traded up $0.91 during mid-day trading on Tuesday, hitting $42.91. 1,021,034 shares of the company's stock were exchanged, compared to its average volume of 1,026,138. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.11 and a beta of 0.57. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The stock's 50-day moving average is $42.62 and its 200-day moving average is $43.49.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). The business had revenue of $928.00 million for the quarter, compared to analyst estimates 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 for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. On average, sell-side analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Tuesday, June 24th. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio is currently 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.