Raymond James Financial Services Advisors Inc. Has $266,000 Stock Position in Portland General Electric (NYSE:POR)

Raymond James Financial Services Advisors Inc. cut its holdings in shares of Portland General Electric (NYSE:POR) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,136 shares of the utilities provider’s stock after selling 753 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Portland General Electric were worth $266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in Portland General Electric by 2.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,597,563 shares of the utilities provider’s stock valued at $105,149,000 after acquiring an additional 58,852 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in shares of Portland General Electric by 12.8% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,944,864 shares of the utilities provider’s stock valued at $78,728,000 after purchasing an additional 220,674 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Portland General Electric by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,161,970 shares of the utilities provider’s stock valued at $47,037,000 after purchasing an additional 68,393 shares in the last quarter. Victory Capital Management Inc. lifted its position in Portland General Electric by 69.3% in the third quarter. Victory Capital Management Inc. now owns 1,040,841 shares of the utilities provider’s stock worth $42,133,000 after purchasing an additional 425,923 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its stake in Portland General Electric by 5.9% during the third quarter. Miller Howard Investments Inc. NY now owns 849,205 shares of the utilities provider’s stock worth $34,376,000 after buying an additional 47,344 shares in the last quarter.

Insider Transactions at Portland General Electric

In related 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 value of $142,100.00. Following the transaction, the chief operating officer now owns 31,950 shares in the company, valued at $1,297,170. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

POR has been the subject of a number of recent research reports. Mizuho restated a “neutral” rating and issued a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Bank of America downgraded Portland General Electric from a “buy” rating to a “neutral” rating and decreased their price objective 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. UBS Group raised 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 research note on Monday, January 29th. Finally, Barclays lowered their price target on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Portland General Electric currently has an average rating of “Hold” and a consensus price target of $45.13.

Portland General Electric Stock Performance

Shares of NYSE:POR opened at $43.54 on Wednesday. The business has a fifty day moving average of $41.21 and a 200-day moving average of $41.47. The firm has a market cap of $4.40 billion, a PE ratio of 18.69 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.84. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $51.58.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data 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). Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The company had revenue of $725.00 million during the quarter, compared to analyst estimates of $740.21 million. During the same quarter in the previous year, the business posted $0.70 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Portland General Electric will post 3.07 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, May 24th will be paid a $0.50 dividend. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend is Monday, June 24th. Portland General Electric’s dividend payout ratio (DPR) is 81.55%.

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.