Mackenzie Financial Corp Has $735,000 Stock Position in Portland General Electric (NYSE:POR)

Mackenzie Financial Corp boosted its holdings in Portland General Electric (NYSE:POR - Free Report) by 145.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,856 shares of the utilities provider's stock after buying an additional 9,980 shares during the period. Mackenzie Financial Corp's holdings in Portland General Electric were worth $735,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Blair William & Co. IL lifted its stake in shares of Portland General Electric by 13.2% in the 4th quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider's stock valued at $258,000 after purchasing an additional 692 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Portland General Electric by 3.7% in the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider's stock valued at $6,166,000 after purchasing an additional 5,084 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of Portland General Electric by 1.3% in the 4th quarter. Natixis Advisors LLC now owns 322,686 shares of the utilities provider's stock valued at $14,076,000 after purchasing an additional 4,195 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Portland General Electric by 11.6% in the 4th quarter. Van ECK Associates Corp now owns 93,330 shares of the utilities provider's stock valued at $4,071,000 after purchasing an additional 9,715 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in shares of Portland General Electric during the 4th quarter valued at about $333,000.

Analyst Upgrades and Downgrades

Several research firms have issued reports on POR. Barclays dropped their price objective on Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $47.00 to $50.00 in a report on Monday, May 5th. JPMorgan Chase & Co. dropped their price objective on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price for the company. in a research report on Tuesday, February 18th. Finally, KeyCorp lowered Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price objective for the company. in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Portland General Electric presently has an average rating of "Hold" and an average price target of $45.60.

Insider Buying and Selling 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 stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the transaction, the executive vice president now owns 32,646 shares in the company, valued at $1,404,430.92. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.40% of the company's stock.

Portland General Electric Stock Down 0.2%

NYSE:POR traded down $0.07 during trading hours on Thursday, hitting $41.19. 809,284 shares of the company's stock traded hands, compared to its average volume of 1,035,836. The stock's fifty day moving average price is $42.39 and its two-hundred day moving average price is $43.29. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The firm has a market cap of $4.51 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.11 and a beta of 0.57.

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 (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company 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 business's revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 EPS. On average, research analysts expect that Portland General Electric will post 3.21 earnings per share 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 issued a $0.525 dividend. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 annualized dividend and a yield of 5.10%. Portland General Electric's dividend payout ratio is 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.