Sowell Financial Services LLC Takes Position in Portland General Electric Company (NYSE:POR)

Sowell Financial Services LLC acquired a new position in shares of Portland General Electric Company (NYSE:POR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,382 shares of the utilities provider's stock, valued at approximately $731,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of POR. True Wealth Design LLC purchased a new stake in shares of Portland General Electric during the 4th quarter valued at about $27,000. Cullen Frost Bankers Inc. raised its stake in shares of Portland General Electric by 1,538.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 769 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Portland General Electric during the fourth quarter worth $52,000. EverSource Wealth Advisors LLC boosted its stake in shares of Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after purchasing an additional 1,096 shares during the period. Finally, Quarry LP boosted its stake in shares of Portland General Electric by 110.4% in the fourth quarter. Quarry LP now owns 1,471 shares of the utilities provider's stock valued at $64,000 after purchasing an additional 772 shares during the period.

Portland General Electric Stock Performance

Shares of POR traded up $0.50 during midday trading on Monday, hitting $41.04. 1,362,899 shares of the stock traded hands, compared to its average volume of 1,039,276. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.94 and a current ratio of 1.06. Portland General Electric Company has a 1-year low of $39.69 and a 1-year high of $49.85. The business's 50 day moving average price is $41.92 and its two-hundred day moving average price is $42.68. The firm has a market capitalization of $4.49 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 3.66 and a beta of 0.57.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). Portland General Electric had a return on equity of 8.24% and a net margin of 8.84%. The firm had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. During the same quarter last year, the company posted $1.21 EPS. Portland General Electric's revenue for the quarter 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 fiscal year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 annualized dividend and a yield of 5.12%. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's payout ratio is presently 70.42%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction 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 directly owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. This trade represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on POR shares. BMO Capital Markets began 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 on the stock. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $47.00 to $50.00 in a research note on Monday, May 5th. KeyCorp lowered shares of 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. Wall Street Zen raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. Finally, Evercore ISI reduced their target price on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $45.60.

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.