Connors Investor Services Inc. Purchases 10,733 Shares of Portland General Electric Company $POR

Connors Investor Services Inc. increased its position in Portland General Electric Company (NYSE:POR) by 24.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,356 shares of the utilities provider’s stock after purchasing an additional 10,733 shares during the period. Connors Investor Services Inc. owned approximately 0.05% of Portland General Electric worth $2,249,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in Portland General Electric during the 1st quarter valued at about $1,321,000. State of Alaska Department of Revenue increased its position in shares of Portland General Electric by 6.5% during the 1st quarter. State of Alaska Department of Revenue now owns 12,806 shares of the utilities provider’s stock valued at $571,000 after purchasing an additional 780 shares during the last quarter. Blue Trust Inc. increased its position in shares of Portland General Electric by 190.6% during the 1st quarter. Blue Trust Inc. now owns 2,929 shares of the utilities provider’s stock valued at $131,000 after purchasing an additional 1,921 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of Portland General Electric by 3.8% during the 1st quarter. Retirement Systems of Alabama now owns 133,091 shares of the utilities provider’s stock valued at $5,936,000 after purchasing an additional 4,865 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Portland General Electric by 1.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,878 shares of the utilities provider’s stock valued at $887,000 after purchasing an additional 335 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently issued reports on POR. Weiss Ratings reissued a “hold (c)” rating on shares of Portland General Electric in a report on Wednesday, October 8th. BTIG Research raised shares of Portland General Electric to a “strong-buy” rating in a report on Wednesday. Jefferies Financial Group increased their target price on shares of Portland General Electric from $43.00 to $46.00 and gave the stock a “hold” rating in a report on Wednesday. Barclays increased their target price on shares of Portland General Electric from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Zacks Research raised shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.73.

Insiders Place Their Bets

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of Portland General Electric stock in a transaction on Friday, August 1st. The shares were sold at an average price of $41.35, for a total transaction of $107,634.05. Following the completion of the transaction, the chief financial officer directly owned 27,089 shares of the company’s stock, valued at $1,120,130.15. The trade was a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Maria M. Pope sold 18,896 shares of Portland General Electric stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total transaction of $803,080.00. Following the transaction, the chief executive officer directly owned 194,135 shares of the company’s stock, valued at $8,250,737.50. The trade was a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Portland General Electric Trading Up 0.9%

POR stock opened at $45.35 on Thursday. The firm has a fifty day moving average price of $43.06 and a 200 day moving average price of $42.11. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97. The firm has a market cap of $4.97 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 4.11 and a beta of 0.62.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The firm had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. During the same period last year, the firm posted $0.69 earnings per share. Portland General Electric’s revenue for the quarter was up 6.5% compared to the same quarter last year. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Sell-side analysts anticipate that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 22nd will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.6%. Portland General Electric’s dividend payout ratio (DPR) is 77.49%.

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.