Farther Finance Advisors LLC Lowers Holdings in Portland General Electric Company (NYSE:POR)

Farther Finance Advisors LLC lessened its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 76.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,305 shares of the utilities provider's stock after selling 7,409 shares during the quarter. Farther Finance Advisors LLC's holdings in Portland General Electric were worth $103,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC purchased a new stake in shares of Portland General Electric in the 4th quarter valued at $27,000. Cullen Frost Bankers Inc. increased its stake in Portland General Electric by 1,538.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after purchasing an additional 769 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Portland General Electric during the fourth quarter worth about $52,000. EverSource Wealth Advisors LLC boosted its stake 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 in the last quarter.

Portland General Electric Stock Up 1.2%

Shares of POR traded up $0.50 during mid-day trading on Monday, reaching $41.04. The company's stock had a trading volume of 1,362,899 shares, compared to its average volume of 1,039,276. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.06 and a quick ratio of 0.94. Portland General Electric Company has a 12-month low of $39.69 and a 12-month high of $49.85. The stock has a market cap of $4.49 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 3.66 and a beta of 0.57. The company's 50 day moving average is $41.92 and its 200 day moving average is $42.68.

Portland General Electric (NYSE:POR - Get Free Report) last announced 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). 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 analysts' expectations of $977.02 million. During the same quarter in the prior year, the company earned $1.21 earnings per share. The business's revenue for the quarter was down .1% on a year-over-year basis. Equities analysts anticipate 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. Stockholders 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 5.12%. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's payout ratio is 70.42%.

Insider Transactions at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the transaction, the executive vice president now directly owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. This trade represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reduced their target price 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. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and lifted their target price for the company from $47.00 to $50.00 in a report on Monday, May 5th. JPMorgan Chase & Co. lowered their target price on 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. BMO Capital Markets began coverage on Portland General Electric in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target on the stock. Finally, Wall Street Zen raised Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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.