Sequoia Financial Advisors LLC Invests $256,000 in Portland General Electric (NYSE:POR)

Sequoia Financial Advisors LLC bought a new position in shares of Portland General Electric (NYSE:POR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,906 shares of the utilities provider’s stock, valued at approximately $256,000.

Several other large investors also recently made changes to their positions in POR. American Century Companies Inc. grew its holdings in shares of Portland General Electric by 17.4% during the first quarter. American Century Companies Inc. now owns 14,034 shares of the utilities provider’s stock worth $774,000 after purchasing an additional 2,083 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Portland General Electric by 58.9% during the first quarter. Citigroup Inc. now owns 46,899 shares of the utilities provider’s stock worth $2,586,000 after purchasing an additional 17,386 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Portland General Electric during the first quarter worth $239,000. Acadian Asset Management LLC bought a new stake in shares of Portland General Electric during the first quarter worth $460,000. Finally, MetLife Investment Management LLC boosted its holdings in Portland General Electric by 55.0% in the first quarter. MetLife Investment Management LLC now owns 47,232 shares of the utilities provider’s stock valued at $2,605,000 after acquiring an additional 16,750 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on POR shares. Barclays decreased their price target on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Mizuho reiterated a “neutral” rating and issued a $42.00 price target (down previously from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and decreased their price target for the company from $55.00 to $43.00 in a report on Monday, February 5th. StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Finally, UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and decreased their price target for the company from $47.00 to $45.00 in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and a consensus price target of $45.13.

Portland General Electric Trading Up 2.6 %

NYSE:POR opened at $42.83 on Friday. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $51.58. The business’s 50-day moving average price is $41.03 and its two-hundred day moving average price is $41.37. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 18.38 and a beta of 0.57.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 16th. The utilities provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.20). The company had revenue of $725.00 million during the quarter, compared to analyst estimates of $740.21 million. Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. On average, equities analysts expect that Portland General Electric will post 3.07 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, May 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.67%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s dividend payout ratio (DPR) is currently 81.55%.

Insider Transactions at Portland General Electric

In other news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total transaction of $142,100.00. Following the sale, the chief operating officer now owns 31,950 shares of the company’s stock, valued at $1,297,170. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.

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.