Raymond James Financial Inc. Purchases 7,998 Shares of Portland General Electric Company $POR

Key Points

• Raymond James Financial Inc. increased its stake in Portland General Electric by 4.9% during the first quarter, acquiring an additional 7,998 shares, bringing its total to 172,630 shares valued at approximately $7.7 million.
• The company reported Q2 earnings per share of $0.66, exceeding analyst expectations of $0.65, with revenues of $807 million, up 6.5% year-over-year.
• Portland General Electric has announced a quarterly dividend of $0.525 per share, yielding 4.9%, with a high dividend payout ratio of 77.49%.

Raymond James Financial Inc. raised its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,630 shares of the utilities provider's stock after acquiring an additional 7,998 shares during the period. Raymond James Financial Inc. owned approximately 0.16% of Portland General Electric worth $7,699,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in POR. Vanguard Group Inc. lifted its stake in shares of Portland General Electric by 4.7% in the first quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider's stock valued at $556,266,000 after buying an additional 559,201 shares during the period. Zimmer Partners LP lifted its stake in shares of Portland General Electric by 25.2% in the fourth quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider's stock valued at $100,598,000 after buying an additional 463,685 shares during the period. Brown Advisory Inc. lifted its stake in shares of Portland General Electric by 54.0% in the first quarter. Brown Advisory Inc. now owns 1,085,699 shares of the utilities provider's stock valued at $48,422,000 after buying an additional 380,749 shares during the period. Northern Trust Corp lifted its stake in shares of Portland General Electric by 13.6% in the fourth quarter. Northern Trust Corp now owns 1,488,333 shares of the utilities provider's stock valued at $64,921,000 after buying an additional 177,920 shares during the period. Finally, LSV Asset Management lifted its stake in shares of Portland General Electric by 58.3% in the first quarter. LSV Asset Management now owns 425,400 shares of the utilities provider's stock valued at $18,973,000 after buying an additional 156,600 shares during the period.

Portland General Electric Stock Up 0.3%

Shares of POR opened at $42.77 on Tuesday. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 3.91 and a beta of 0.63. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $49.85. The company has a 50-day moving average price of $41.50 and a two-hundred day moving average price of $42.30.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The company's revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Equities analysts predict that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.10 annualized dividend and a dividend yield of 4.9%. Portland General Electric's dividend payout ratio (DPR) is presently 77.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Zacks Research upgraded shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. UBS Group upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and increased their target price for the company from $47.00 to $50.00 in a research note on Monday, May 5th. BMO Capital Markets started coverage on shares of Portland General Electric in a research note on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price target for the company. Barclays cut their price target on shares of 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. Finally, JPMorgan Chase & Co. cut their price target 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. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $45.40.

Insider Activity at Portland General Electric

In other news, Director Michael A. Lewis sold 1,937 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $40.10, for a total transaction of $77,673.70. Following the completion of the sale, the director owned 13,509 shares of the company's stock, valued at approximately $541,710.90. This trade represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $41.35, for a total transaction 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. The trade was a 8.77% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

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.

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