Portland General Electric Company (NYSE:POR) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,656,427 shares of the utilities provider's stock after selling 8,849 shares during the period. Massachusetts Financial Services Co. MA owned 2.43% of Portland General Electric worth $118,477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of POR. Private Trust Co. NA increased its position in shares of Portland General Electric by 62.6% in the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after acquiring an additional 244 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Portland General Electric by 3.2% in the fourth quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider's stock worth $379,000 after acquiring an additional 269 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Portland General Electric by 4.2% in the fourth quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider's stock worth $318,000 after acquiring an additional 291 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of Portland General Electric by 25.3% in the first quarter. Hexagon Capital Partners LLC now owns 1,443 shares of the utilities provider's stock worth $64,000 after acquiring an additional 291 shares in the last quarter. Finally, Texas Yale Capital Corp. increased its position in shares of Portland General Electric by 2.6% in the fourth quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider's stock worth $520,000 after acquiring an additional 300 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on POR shares. BMO Capital Markets started coverage on shares of Portland General Electric in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price objective for the company. Evercore ISI dropped their price objective on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Barclays dropped their price objective on shares of Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. decreased 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. Finally, UBS Group upgraded shares of 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. One investment 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. According to MarketBeat, Portland General Electric presently has an average rating of "Hold" and a consensus target price of $45.60.

Portland General Electric Stock Down 1.3%

NYSE POR traded down $0.51 during trading hours on Thursday, reaching $40.21. 2,077,786 shares of the company traded hands, compared to its average volume of 1,065,622. Portland General Electric Company has a 12 month low of $39.55 and a 12 month high of $49.85. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $4.40 billion, a PE ratio of 14.16, a PEG ratio of 3.79 and a beta of 0.56. The company has a 50 day moving average of $41.30 and a two-hundred day moving average of $42.26.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $977.02 million. During the same quarter last year, the company earned $1.21 earnings per share. The company's revenue was down .1% compared to the same quarter last year. As a group, equities analysts expect that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.22%. 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. Portland General Electric's dividend payout ratio is 73.94%.

Portland General Electric 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.