Assetmark Inc. Lowers Stock Holdings in Portland General Electric (NYSE:POR)

Assetmark Inc. lowered its stake in Portland General Electric (NYSE:POR) by 16.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,088 shares of the utilities provider’s stock after selling 789 shares during the period. Assetmark Inc.’s holdings in Portland General Electric were worth $196,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV grew its holdings in shares of Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after buying 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 valued at approximately $25,000. LRI Investments LLC bought a new stake in shares of Portland General Electric in the 1st quarter worth $26,000. Allworth Financial LP raised its stake in shares of Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 265 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Portland General Electric during the second quarter valued at $33,000.

Portland General Electric Price Performance

Shares of Portland General Electric stock opened at $46.65 on Friday. The stock’s fifty day moving average is $47.55 and its 200 day moving average is $45.93. Portland General Electric has a one year low of $39.13 and a one year high of $49.85. 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 stock has a market cap of $4.92 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.18 and a beta of 0.59.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share (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 the consensus estimate of $882.66 million. During the same period in the previous year, the company posted $0.46 EPS. The firm’s revenue was up 15.8% on a year-over-year basis. Sell-side analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.29%. Portland General Electric’s payout ratio is 59.70%.

Insider Buying and Selling

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’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 transaction, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. This represents a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

POR has been the subject of several research analyst reports. Evercore ISI assumed coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Bank of America initiated coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target on the stock. Finally, StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.86.

Portland General Electric 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.