Farther Finance Advisors LLC Has $426,000 Stock Holdings in Portland General Electric (NYSE:POR)

Farther Finance Advisors LLC increased its stake in shares of Portland General Electric (NYSE:POR) by 7.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,903 shares of the utilities provider’s stock after buying an additional 616 shares during the period. Farther Finance Advisors LLC’s holdings in Portland General Electric were worth $426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in POR. Massmutual Trust Co. FSB ADV raised its stake in shares of Portland General Electric by 767.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 514 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Portland General Electric in the 3rd quarter worth approximately $25,000. LRI Investments LLC acquired a new position in Portland General Electric during the 1st quarter worth $26,000. Allworth Financial LP boosted its position in Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after buying an additional 265 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Portland General Electric in the 2nd quarter valued at $33,000.

Wall Street Analysts Forecast Growth

POR has been the topic of several recent research reports. Jefferies Financial Group assumed coverage on Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 price target on the stock. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Barclays dropped their price target on shares of 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. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Finally, Evercore ISI initiated coverage on Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.13.

Insiders Place Their Bets

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the transaction, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Trading Down 1.5 %

POR opened at $46.49 on Friday. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85. The firm has a market cap of $4.90 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.18 and a beta of 0.59. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The firm’s fifty day moving average is $47.74 and its two-hundred day moving average is $45.79.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same period in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts anticipate that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.30%. Portland General Electric’s payout ratio is 59.70%.

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.