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

Massachusetts Financial Services Co. MA trimmed its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Portland General Electric in the fourth quarter worth $7,181,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Portland General Electric by 7.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,343 shares of the utilities provider's stock valued at $1,062,000 after purchasing an additional 1,654 shares during the period. EverSource Wealth Advisors LLC boosted its position in Portland General Electric by 352.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after acquiring an additional 1,096 shares in the last quarter. Swiss National Bank boosted its position in shares of Portland General Electric by 0.7% in the 4th quarter. Swiss National Bank now owns 202,700 shares of the utilities provider's stock worth $8,842,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Portland General Electric by 31.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 44,384 shares of the utilities provider's stock worth $1,936,000 after purchasing an additional 10,571 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on POR shares. KeyCorp cut Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target on the stock. in a report on Wednesday, May 14th. Wall Street Zen upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. dropped their target price on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Barclays dropped their target price on 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. Finally, BMO Capital Markets began coverage on Portland General Electric in a research report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Portland General Electric currently has a consensus rating of "Hold" and an average price target of $45.60.

Portland General Electric Trading Down 0.5%

Shares of Portland General Electric stock traded down $0.19 on Friday, hitting $40.02. 1,845,886 shares of the company traded hands, compared to its average volume of 1,070,658. The stock's 50 day moving average price is $41.25 and its 200-day moving average price is $42.23. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.28. Portland General Electric Company has a 52 week low of $39.55 and a 52 week high of $49.85. The company has a market cap of $4.38 billion, a PE ratio of 14.09, a PEG ratio of 3.72 and a beta of 0.56.

Portland General Electric (NYSE:POR - Get Free Report) last posted 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). 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 period in the prior year, the firm posted $1.21 EPS. The business's revenue was down .1% on a year-over-year basis. Equities research analysts predict that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend was Tuesday, June 24th. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's payout ratio is currently 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.