Creative Planning Boosts Stake in Portland General Electric Company $POR

Creative Planning raised its holdings in shares of Portland General Electric Company (NYSE:POR) by 10.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 34,225 shares of the utilities provider’s stock after purchasing an additional 3,133 shares during the quarter. Creative Planning’s holdings in Portland General Electric were worth $1,391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of POR. IFP Advisors Inc boosted its holdings in Portland General Electric by 1,291.7% during the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 620 shares during the period. S.A. Mason LLC purchased a new stake in shares of Portland General Electric during the second quarter valued at $29,000. Costello Asset Management INC purchased a new stake in shares of Portland General Electric during the first quarter valued at $46,000. Tompkins Financial Corp grew its holdings in shares of Portland General Electric by 83.3% in the second quarter. Tompkins Financial Corp now owns 1,100 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 500 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new position in Portland General Electric in the 1st quarter worth about $52,000.

Portland General Electric Stock Up 0.2%

Portland General Electric stock opened at $50.82 on Friday. Portland General Electric Company has a twelve month low of $39.54 and a twelve month high of $51.14. The business has a fifty day moving average of $46.24 and a two-hundred day moving average of $43.24. The firm has a market cap of $5.72 billion, a P/E ratio of 18.75, a P/E/G ratio of 4.18 and a beta of 0.67. 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 (NYSE:POR) last released its quarterly earnings results on Thursday, October 30th. The utilities provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.The firm had revenue of $952.00 million during the quarter, compared to analyst estimates of $975.64 million. During the same period in the previous year, the company posted $0.90 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts forecast that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, December 22nd. Portland General Electric’s dividend payout ratio (DPR) is currently 76.36%.

Insider Activity

In related news, CEO Maria M. Pope sold 18,896 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $42.50, for a total transaction of $803,080.00. Following the completion of the transaction, the chief executive officer owned 194,135 shares in the company, valued at $8,250,737.50. The trade was a 8.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on POR. UBS Group reissued a “neutral” rating and issued a $51.00 price objective on shares of Portland General Electric in a research report on Wednesday, November 19th. Wells Fargo & Company assumed coverage on Portland General Electric in a research note on Monday, October 27th. They issued an “equal weight” rating and a $45.00 price objective on the stock. BTIG Research upgraded Portland General Electric to a “strong-buy” rating in a report on Wednesday, October 22nd. Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Finally, Mizuho set a $47.00 price target on Portland General Electric in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.92.

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.