PFG Investments LLC Has $745,000 Holdings in Portland General Electric (NYSE:POR)

PFG Investments LLC lessened its holdings in shares of Portland General Electric (NYSE:POR) by 5.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,198 shares of the utilities provider’s stock after selling 976 shares during the quarter. PFG Investments LLC’s holdings in Portland General Electric were worth $745,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in POR. Comerica Bank raised its stake in shares of Portland General Electric by 309.9% in the 3rd quarter. Comerica Bank now owns 174,052 shares of the utilities provider’s stock valued at $7,046,000 after purchasing an additional 131,589 shares during the period. Scharf Investments LLC bought a new position in shares of Portland General Electric in the 4th quarter valued at about $3,037,000. Versor Investments LP grew its holdings in Portland General Electric by 55.2% during the third quarter. Versor Investments LP now owns 13,806 shares of the utilities provider’s stock worth $559,000 after purchasing an additional 4,911 shares during the period. Legal & General Group Plc boosted its holdings in shares of Portland General Electric by 2.3% during the third quarter. Legal & General Group Plc now owns 624,905 shares of the utilities provider’s stock worth $25,296,000 after acquiring an additional 13,952 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in shares of Portland General Electric by 92.2% during the third quarter. Hsbc Holdings PLC now owns 135,507 shares of the utilities provider’s stock worth $5,476,000 after acquiring an additional 64,987 shares during the period.

Portland General Electric Trading Up 1.7 %

POR traded up $0.70 during trading on Wednesday, reaching $41.20. 46,948 shares of the stock traded hands, compared to its average volume of 969,130. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $4.17 billion, a PE ratio of 17.38, a P/E/G ratio of 2.59 and a beta of 0.57. The stock’s 50-day moving average is $40.72 and its 200 day moving average is $41.55. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $51.58.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, February 16th. The utilities provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.20). The firm had revenue of $725.00 million for the quarter, compared to the consensus estimate of $740.21 million. Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.70 EPS. Equities analysts anticipate that Portland General Electric will post 3.06 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 22nd will be paid a $0.475 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $1.90 annualized dividend and a dividend yield of 4.61%. Portland General Electric’s dividend payout ratio is presently 81.55%.

Analyst Upgrades and Downgrades

POR has been the subject of a number of research analyst reports. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $47.00 to $45.00 in a report on Monday, January 29th. StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Mizuho restated a “neutral” rating and set a $42.00 price objective (down from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. Bank of America downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $55.00 to $43.00 in a research report on Monday, February 5th. Finally, Barclays lowered their price target on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Portland General Electric presently has an average rating of “Hold” and an average price target of $45.13.

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.