164,631 Shares in Portland General Electric (NYSE:POR) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Portland General Electric (NYSE:POR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 164,631 shares of the utilities provider's stock, valued at approximately $7,181,000. Raymond James Financial Inc. owned 0.16% of Portland General Electric as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in POR. Nordea Investment Management AB boosted its position in Portland General Electric by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider's stock valued at $43,058,000 after purchasing an additional 19,057 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Portland General Electric by 114.1% during the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock valued at $7,289,000 after buying an additional 81,701 shares during the last quarter. Synergy Asset Management LLC boosted its position in Portland General Electric by 260.6% in the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock valued at $5,096,000 after buying an additional 82,743 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Portland General Electric by 13.2% in the fourth quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider's stock worth $258,000 after acquiring an additional 692 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Portland General Electric by 3.7% in the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider's stock valued at $6,166,000 after buying an additional 5,084 shares during the period.

Analyst Ratings Changes

Several research firms recently commented on POR. Evercore ISI dropped their price target on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday. Wells Fargo & Company dropped their target price on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. Finally, Barclays upped their target price on shares of Portland General Electric from $47.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $45.40.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the transaction, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Benjamin Felton sold 1,845 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the sale, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,795 shares of company stock valued at $159,946 in the last ninety days. 0.40% of the stock is currently owned by company insiders.

Portland General Electric Stock Performance

Shares of Portland General Electric stock traded up $0.24 during trading hours on Tuesday, hitting $41.65. 94,936 shares of the company were exchanged, compared to its average volume of 1,028,781. The business has a 50-day moving average of $43.55 and a 200-day moving average of $44.28. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR - Get Free Report) last issued its 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 9.13% and a return on equity of 9.10%. The firm had revenue of $928.00 million during the quarter, compared to analysts' expectations of $977.02 million. During the same period in the previous year, the firm earned $1.21 EPS. The firm's revenue was down .1% on a year-over-year basis. As a group, analysts expect that Portland General Electric 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 issued a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a yield of 5.04%. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio (DPR) is 69.77%.

Portland General Electric Company 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.