Portland General Electric (NYSE:POR) Stake Raised by Citigroup Inc.

Citigroup Inc. lifted its holdings in Portland General Electric (NYSE:POR) by 43.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,044 shares of the utilities provider’s stock after purchasing an additional 55,529 shares during the period. Citigroup Inc. owned about 0.17% of Portland General Electric worth $8,768,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP lifted its position in shares of Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 265 shares during the last quarter. First Pacific Financial boosted its position in shares of Portland General Electric by 2.9% in the 3rd quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock valued at $591,000 after purchasing an additional 347 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Portland General Electric by 20.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock worth $107,000 after buying an additional 413 shares during the period. Blue Trust Inc. lifted its stake in Portland General Electric by 94.5% during the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after buying an additional 451 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in 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 in the last quarter.

Portland General Electric Price Performance

Shares of POR opened at $47.93 on Friday. 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 has a market cap of $5.05 billion, a PE ratio of 14.31, a PEG ratio of 1.22 and a beta of 0.59. The firm’s 50 day moving average price is $47.40 and its 200 day moving average price is $46.17. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. Portland General Electric’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. As a group, research analysts expect that Portland General Electric will post 3.12 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 annualized dividend and a dividend yield of 4.17%. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Insider Activity

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

Analyst Ratings Changes

Several brokerages recently commented on POR. 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. Bank of America began coverage on Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target on the stock. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Jefferies Financial Group began coverage on Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 target price on the stock. Finally, Barclays decreased 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 report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $48.86.

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.