Portland General Electric Company $POR Holdings Raised by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Portland General Electric by 27.9% during the first quarter, owning 62,299 shares valued at approximately $2.78 million.
• Portland General Electric recently announced a quarterly dividend of $0.525 per share, yielding 5.0%, with an ex-dividend date of September 25th.
• Analysts have varied ratings on the stock, with one upgrade to "hold" and multiple price target adjustments, culminating in an average price target of $45.40.

LPL Financial LLC increased its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 27.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,299 shares of the utilities provider's stock after buying an additional 13,599 shares during the quarter. LPL Financial LLC owned about 0.06% of Portland General Electric worth $2,779,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. grew its stake in Portland General Electric by 19.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock worth $172,720,000 after buying an additional 635,987 shares during the last quarter. Zimmer Partners LP grew its stake in Portland General Electric by 25.2% during the 4th quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider's stock worth $100,598,000 after buying an additional 463,685 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Portland General Electric by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,643,769 shares of the utilities provider's stock worth $71,701,000 after buying an additional 59,861 shares during the last quarter. Northern Trust Corp grew its stake in Portland General Electric by 13.6% during the 4th quarter. Northern Trust Corp now owns 1,488,333 shares of the utilities provider's stock worth $64,921,000 after buying an additional 177,920 shares during the last quarter. Finally, Brown Advisory Inc. grew its stake in Portland General Electric by 54.0% during the 1st quarter. Brown Advisory Inc. now owns 1,085,699 shares of the utilities provider's stock worth $48,422,000 after buying an additional 380,749 shares during the last quarter.

Insider Buying and Selling at Portland General Electric

In other news, Director Michael A. Lewis sold 1,937 shares of the company's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $40.10, for a total transaction of $77,673.70. Following the completion of the sale, the director directly owned 13,509 shares of the company's stock, valued at $541,710.90. This represents a 12.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the company's 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 directly 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 disclosure for this sale can be found here. Corporate insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on POR shares. Wall Street Zen upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. KeyCorp cut Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target for the company. in a research note on Wednesday, May 14th. Barclays decreased their price target on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 22nd. Evercore ISI decreased their price target on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Finally, Wells Fargo & Company decreased their price target on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $45.40.

Portland General Electric Trading Down 0.5%

Shares of Portland General Electric stock opened at $42.40 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 3.88 and a beta of 0.55. The business has a fifty day simple moving average of $41.08 and a 200-day simple moving average of $42.21. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%. The business had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The company's revenue was up 6.5% on a year-over-year basis. On average, equities analysts forecast that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, September 25th. Portland General Electric's dividend 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.

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