First Pacific Financial Purchases 347 Shares of Portland General Electric (NYSE:POR)

by · The Cerbat Gem

First Pacific Financial boosted its holdings in shares of Portland General Electric (NYSE:POR – Free Report) by 2.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,331 shares of the utilities provider’s stock after purchasing an additional 347 shares during the period. First Pacific Financial’s holdings in Portland General Electric were worth $591,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. LRI Investments LLC bought a new stake in shares of Portland General Electric during the 1st quarter worth $26,000. Massmutual Trust Co. FSB ADV boosted its stake in 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 valued at $25,000 after buying an additional 514 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Portland General Electric in the second quarter valued at about $33,000. Mather Group LLC. acquired a new stake in Portland General Electric in the first quarter valued at about $34,000. Finally, Hexagon Capital Partners LLC boosted its stake in Portland General Electric by 140.6% in the first quarter. Hexagon Capital Partners LLC now owns 919 shares of the utilities provider’s stock valued at $39,000 after buying an additional 537 shares in the last quarter.

Portland General Electric Trading Up 1.5 %

NYSE:POR traded up $0.71 during trading hours on Tuesday, hitting $48.26. 1,341,609 shares of the company were exchanged, compared to its average volume of 951,451. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.30 and a beta of 0.59. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Portland General Electric has a one year low of $39.13 and a one year high of $49.45. The company has a fifty day simple moving average of $47.41 and a 200 day simple moving average of $45.04.

Portland General Electric (NYSE:POR – Get Free Report) last posted its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The company had revenue of $758.00 million for the quarter, compared to analyst estimates of $716.43 million. During the same period in the prior year, the firm posted $0.44 EPS. The company’s quarterly revenue was up 17.0% on a year-over-year basis. Sell-side analysts expect that Portland General Electric will post 3.09 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is currently 76.63%.

Insider Buying and Selling

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,486 shares of company stock valued at $262,153 over the last 90 days. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price on the stock. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Jefferies Financial Group assumed coverage on shares of Portland General Electric in a research note on Friday, September 20th. They set a “hold” rating and a $48.00 target price on the stock. Bank of America started coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price on the stock. Finally, Barclays downgraded Portland General Electric from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $48.00 to $49.00 in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.00.

Get Our Latest Analysis on Portland General Electric

About Portland General Electric

(Free Report)

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.

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