Valley Wealth Managers Inc. Has $3.67 Million Holdings in Portland General Electric (NYSE:POR)

Valley Wealth Managers Inc. cut its position in Portland General Electric (NYSE:POR) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,088 shares of the utilities provider’s stock after selling 9,639 shares during the period. Valley Wealth Managers Inc. owned 0.08% of Portland General Electric worth $3,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in Portland General Electric by 1.6% in the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after buying an additional 66,438 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Portland General Electric by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after acquiring an additional 25,332 shares during the last quarter. Zimmer Partners LP raised its stake in shares of Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after acquiring an additional 952,214 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Portland General Electric by 4.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,781 shares of the utilities provider’s stock worth $57,220,000 after acquiring an additional 51,936 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Portland General Electric by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock worth $61,219,000 after acquiring an additional 13,720 shares during the last quarter.

Analyst Ratings Changes

POR has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays dropped their target price on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. KeyCorp dropped their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Finally, UBS Group reissued a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $47.38.

Portland General Electric Stock Performance

Shares of POR opened at $41.62 on Tuesday. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.05 and a beta of 0.61. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The firm has a fifty day simple moving average of $42.50 and a 200 day simple moving average of $45.68. Portland General Electric has a 12 month low of $39.49 and a 12 month high of $49.85.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. During the same period last year, the firm earned $0.67 earnings per share. Research analysts forecast that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is currently 59.70%.

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.