EverSource Wealth Advisors LLC Has $61,000 Position in Portland General Electric (NYSE:POR)

EverSource Wealth Advisors LLC raised its stake in shares of Portland General Electric (NYSE:POR) by 352.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,407 shares of the utilities provider’s stock after buying an additional 1,096 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Portland General Electric were worth $61,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Portland General Electric during the 4th quarter worth about $29,000. Versant Capital Management Inc lifted its holdings in shares of Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 769 shares in the last quarter. USA Financial Formulas bought a new position in shares of Portland General Electric during the 4th quarter valued at about $71,000. Finally, KBC Group NV lifted its holdings in shares of Portland General Electric by 59.3% during the 4th quarter. KBC Group NV now owns 3,649 shares of the utilities provider’s stock valued at $159,000 after purchasing an additional 1,359 shares in the last quarter.

Insider Activity

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by insiders.

Portland General Electric Trading Down 0.6 %

NYSE POR opened at $44.29 on Thursday. The company has a market cap of $4.85 billion, a PE ratio of 14.71, a PEG ratio of 1.11 and a beta of 0.55. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The stock has a 50 day moving average of $42.71 and a 200-day moving average of $45.27.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same quarter in the prior year, the firm posted $0.67 EPS. On average, equities research analysts anticipate that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s payout ratio is presently 66.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on POR. Barclays lifted their price objective on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Bank of America cut their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. Evercore ISI lifted their price objective on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. KeyCorp cut their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Portland General Electric has an average rating of “Hold” and a consensus price target of $47.00.

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.