NFJ Investment Group LLC Sells 2,808 Shares of Portland General Electric (NYSE:POR)

NFJ Investment Group LLC decreased its holdings in shares of Portland General Electric (NYSE:POR) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,968 shares of the utilities provider’s stock after selling 2,808 shares during the quarter. NFJ Investment Group LLC owned approximately 0.06% of Portland General Electric worth $2,920,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Massmutual Trust Co. FSB ADV increased its position in Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after buying an additional 514 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Portland General Electric during the 3rd quarter worth about $25,000. Allworth Financial LP increased its holdings in shares of Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 265 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Portland General Electric during the 2nd quarter valued at about $33,000. Finally, Blue Trust Inc. raised its stake in shares of Portland General Electric by 94.5% in the 2nd quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 451 shares in the last quarter.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. The trade was a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Price Performance

NYSE:POR opened at $47.13 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The company has a 50-day moving average of $47.38 and a 200-day moving average of $46.22. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.20 and a beta of 0.59.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. During the same quarter last year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Portland General Electric will post 3.12 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) is 59.70%.

Wall Street Analyst Weigh In

POR has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays dropped their target price on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Jefferies Financial Group started coverage on Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price target on the stock. Bank of America began coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target on the stock. Finally, StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.86.

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.