Cerity Partners LLC Has $2.37 Million Stock Holdings in Portland General Electric (NYSE:POR)

Cerity Partners LLC boosted its holdings in shares of Portland General Electric (NYSE:POR) by 37.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 49,448 shares of the utilities provider’s stock after buying an additional 13,519 shares during the period. Cerity Partners LLC’s holdings in Portland General Electric were worth $2,369,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Portland General Electric by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 52,603 shares of the utilities provider’s stock valued at $2,210,000 after buying an additional 3,703 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Portland General Electric by 274.5% during the first quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider’s stock worth $8,303,000 after purchasing an additional 144,900 shares during the period. Tidal Investments LLC grew its holdings in Portland General Electric by 3.6% during the first quarter. Tidal Investments LLC now owns 19,118 shares of the utilities provider’s stock valued at $801,000 after purchasing an additional 662 shares during the period. Cetera Investment Advisers grew its stake in Portland General Electric by 228.4% in the first quarter. Cetera Investment Advisers now owns 52,833 shares of the utilities provider’s stock valued at $2,219,000 after acquiring an additional 36,744 shares during the period. Finally, Cetera Advisors LLC increased its position in shares of Portland General Electric by 231.6% during the first quarter. Cetera Advisors LLC now owns 19,499 shares of the utilities provider’s stock worth $819,000 after acquiring an additional 13,618 shares in the last quarter.

Analyst Ratings Changes

POR has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America started coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price for the company. Evercore ISI began coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target for the company. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group initiated coverage on Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $48.86.

Portland General Electric Stock Down 0.3 %

Shares of POR opened at $47.92 on Monday. 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 one year low of $39.13 and a one year high of $49.85. The company has a market cap of $5.05 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.22 and a beta of 0.59. The firm has a 50 day simple moving average of $47.40 and a two-hundred day simple moving average of $46.19.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. During the same period in the prior year, the company earned $0.46 EPS. Portland General Electric’s revenue was up 15.8% compared to the same quarter last year. Research analysts forecast that Portland General Electric will post 3.12 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is currently 59.70%.

Insider Buying and Selling

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value 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 trade represents a 14.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.54% of the stock is owned by insiders.

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.