16,382 Shares in Portland General Electric Company (NYSE:POR) Acquired by Sowell Financial Services LLC

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

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its stake in Portland General Electric by 121.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 27,557 shares of the utilities provider's stock worth $1,191,000 after acquiring an additional 15,136 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Portland General Electric by 11.6% in the fourth quarter. Van ECK Associates Corp now owns 93,330 shares of the utilities provider's stock valued at $4,071,000 after purchasing an additional 9,715 shares during the period. Rhumbline Advisers increased its holdings in shares of Portland General Electric by 4.3% in the fourth quarter. Rhumbline Advisers now owns 367,063 shares of the utilities provider's stock valued at $16,011,000 after purchasing an additional 15,045 shares during the period. Principal Securities Inc. raised its stake in shares of Portland General Electric by 23.9% in the fourth quarter. Principal Securities Inc. now owns 6,518 shares of the utilities provider's stock worth $284,000 after purchasing an additional 1,259 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Portland General Electric by 2.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 44,749 shares of the utilities provider's stock worth $1,952,000 after purchasing an additional 1,254 shares during the period.

Portland General Electric Stock Performance

POR traded up $0.37 on Friday, reaching $40.53. The stock had a trading volume of 2,001,962 shares, compared to its average volume of 1,040,692. The company has a market cap of $4.44 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 3.63 and a beta of 0.57. Portland General Electric Company has a 12-month low of $39.69 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 business's 50-day moving average price is $41.99 and its two-hundred day moving average price is $42.81.

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). The business had revenue of $928.00 million during the quarter, compared to analysts' expectations of $977.02 million. Portland General Electric had a net margin of 8.84% and a return on equity of 8.24%. The firm's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. Sell-side analysts forecast that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 5.18%. The ex-dividend date is Tuesday, June 24th. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's payout ratio is presently 73.94%.

Insiders Place Their Bets

In other news, EVP Benjamin Felton sold 1,845 shares of the business's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the sale, the executive vice president now owns 32,646 shares of the company's stock, valued at $1,404,430.92. The trade was a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

POR has been the subject of a number of recent research reports. 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 report on Wednesday, May 14th. Wall Street Zen upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. BMO Capital Markets assumed coverage on shares of 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. JPMorgan Chase & Co. lowered their price target on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Finally, Barclays reduced their price objective on Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $45.60.

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.