EverSource Wealth Advisors LLC Acquires 1,096 Shares of Portland General Electric (NYSE:POR)

EverSource Wealth Advisors LLC boosted its holdings in Portland General Electric (NYSE:POR) by 352.4% during the fourth quarter, Holdings Channel reports. The fund owned 1,407 shares of the utilities provider’s stock after purchasing an additional 1,096 shares during the period. EverSource Wealth Advisors LLC’s holdings in Portland General Electric were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in POR. Zimmer Partners LP increased its position in Portland General Electric by 107.0% during the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after buying an additional 952,214 shares during the period. Assenagon Asset Management S.A. bought a new position in Portland General Electric during the 4th quarter worth $32,553,000. OLD Republic International Corp bought a new position in Portland General Electric during the 4th quarter worth $22,464,000. Raymond James Financial Inc. bought a new position in Portland General Electric during the 4th quarter worth $7,181,000. Finally, Bank of New York Mellon Corp increased its position in Portland General Electric by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider’s stock worth $74,863,000 after buying an additional 138,831 shares during the period.

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 dated Tuesday, February 18th. The stock was 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 in the company, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by corporate insiders.

Portland General Electric Stock Performance

Shares of POR stock opened at $44.29 on Thursday. The business’s 50-day moving average price is $42.71 and its 200-day moving average price is $45.27. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.11 and a beta of 0.55. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same period last year, the firm posted $0.67 earnings per share. Equities research analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.52%. Portland General Electric’s dividend payout ratio (DPR) is 66.45%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays increased their price objective on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Jefferies Financial Group reduced their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, February 18th. UBS Group reaffirmed a “neutral” rating and issued a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Finally, Evercore ISI raised their price objective on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Portland General Electric presently has a consensus rating of “Hold” and an average price target of $47.00.

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.