Massachusetts Financial Services Co. MA Has $128.82 Million Stock Holdings in Portland General Electric (NYSE:POR)

Massachusetts Financial Services Co. MA lifted its stake in shares of Portland General Electric (NYSE:POR) by 0.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,689,348 shares of the utilities provider’s stock after purchasing an additional 544 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.55% of Portland General Electric worth $128,820,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of POR. Allworth Financial LP grew its stake in Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after buying an additional 265 shares in the last quarter. First Pacific Financial lifted its holdings in shares of Portland General Electric by 2.9% during the 3rd quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock worth $591,000 after acquiring an additional 347 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Portland General Electric by 20.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 413 shares in the last quarter. Blue Trust Inc. increased its stake in Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 451 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised 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 valued at $25,000 after purchasing an additional 514 shares in the last quarter.

Insider Activity

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. This represents a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Portland General Electric Stock Down 0.1 %

Shares of NYSE POR opened at $47.57 on Friday. The company has a 50 day simple moving average of $47.45 and a 200 day simple moving average of $46.05. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85. The firm has a market cap of $5.02 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.59.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $882.66 million. During the same quarter last year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, research analysts forecast that Portland General Electric will post 3.11 EPS for the current 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. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.20%. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on POR shares. Bank of America assumed coverage on Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays lowered their target price on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Jefferies Financial Group initiated coverage on shares of Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price target on the stock. Finally, Evercore ISI started coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price objective for the company. 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 MarketBeat, Portland General Electric currently has a consensus rating of “Hold” and an average target price of $48.86.

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.