Ethos Financial Group LLC Makes New Investment in Portland General Electric Company $POR

Key Points

• Ethos Financial Group LLC invested approximately $1.09 million in Portland General Electric by acquiring 24,476 shares during the first quarter.
• Portland General Electric recently reported $807 million in quarterly revenue and $0.66 EPS, slightly exceeding analyst estimates.
• The company declared a quarterly dividend of $0.525 per share, with an annualized yield of 5.0%.

Ethos Financial Group 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 & Exchange Commission. The fund purchased 24,476 shares of the utilities provider's stock, valued at approximately $1,092,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. grew its holdings in shares of Portland General Electric by 4.9% during the 1st quarter. Raymond James Financial Inc. now owns 172,630 shares of the utilities provider's stock worth $7,699,000 after acquiring an additional 7,998 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Portland General Electric in the 1st quarter worth about $566,000. Sei Investments Co. grew its position in shares of Portland General Electric by 1.9% in the 1st quarter. Sei Investments Co. now owns 120,157 shares of the utilities provider's stock worth $5,266,000 after buying an additional 2,236 shares during the period. Fox Hill Wealth Management grew its holdings in Portland General Electric by 14.5% in the first quarter. Fox Hill Wealth Management now owns 34,752 shares of the utilities provider's stock worth $1,550,000 after purchasing an additional 4,410 shares during the period. Finally, HighTower Advisors LLC grew its holdings in Portland General Electric by 5.4% in the first quarter. HighTower Advisors LLC now owns 79,481 shares of the utilities provider's stock worth $3,545,000 after purchasing an additional 4,092 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on POR shares. UBS Group upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $47.00 to $50.00 in a report on Monday, May 5th. BMO Capital Markets began coverage on shares of Portland General Electric in a report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Barclays cut their target price on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 22nd. Finally, Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Portland General Electric currently has an average rating of "Hold" and a consensus target price of $45.40.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $41.35, for a total value of $107,634.05. Following the sale, the chief financial officer owned 27,089 shares of the company's stock, valued at approximately $1,120,130.15. This represents a 8.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $40.10, for a total value of $77,673.70. Following the completion of the sale, the director owned 13,509 shares in the company, valued at approximately $541,710.90. The trade was a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Portland General Electric Stock Performance

Shares of POR stock traded down $0.3140 during trading hours on Thursday, reaching $42.1860. 1,179,871 shares of the company traded hands, compared to its average volume of 1,178,280. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84. Portland General Electric Company has a 12-month low of $39.54 and a 12-month high of $49.85. The firm has a 50-day moving average price of $41.16 and a 200 day moving average price of $42.22. The company has a market cap of $4.62 billion, a P/E ratio of 15.57, a P/E/G ratio of 3.90 and a beta of 0.55.

Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The company had revenue of $807.00 million for the quarter, compared to analysts' expectations of $797.97 million. During the same quarter in the previous year, the company earned $0.69 EPS. Portland General Electric's revenue for the quarter was up 6.5% on a year-over-year basis. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. As a group, sell-side analysts predict that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, September 25th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Thursday, September 25th. Portland General Electric's payout ratio is currently 77.49%.

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.