Cerity Partners LLC Acquires 40,329 Shares of Portland General Electric Company (NYSE:POR)

Cerity Partners LLC grew its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 88.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,895 shares of the utilities provider's stock after buying an additional 40,329 shares during the period. Cerity Partners LLC owned 0.08% of Portland General Electric worth $3,831,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in Portland General Electric during the 4th quarter valued at about $27,000. Wayfinding Financial LLC bought a new position in Portland General Electric during the 1st quarter valued at approximately $27,000. Private Trust Co. NA increased its holdings in shares of Portland General Electric by 62.6% in the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after purchasing an additional 244 shares in the last quarter. Global X Japan Co. Ltd. grew its holdings in shares of Portland General Electric by 113.1% in the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock worth $29,000 after acquiring an additional 345 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in Portland General Electric during the fourth quarter valued at $52,000.

Portland General Electric Trading Down 1.3%

Shares of Portland General Electric stock opened at $40.21 on Friday. Portland General Electric Company has a 1 year low of $39.55 and a 1 year high of $49.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.06 and a quick ratio of 0.94. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 3.79 and a beta of 0.56. The business has a fifty day simple moving average of $41.30 and a two-hundred day simple moving average of $42.26.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share 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 8.24% and a net margin of 8.84%. The business's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 earnings per share. Research analysts forecast that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th were paid a dividend of $0.525 per share. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a yield of 5.22%. Portland General Electric's payout ratio is presently 73.94%.

Analyst Upgrades and Downgrades

POR has been the topic of a number of analyst reports. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and upped their target price for the company from $47.00 to $50.00 in a research note on Monday, May 5th. Wall Street Zen raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. KeyCorp cut shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target for the company. in a research report on Wednesday, May 14th. JPMorgan Chase & Co. dropped their price objective on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Finally, BMO Capital Markets initiated coverage on shares of Portland General Electric in a research report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 target price on the stock. 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. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $45.60.

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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