CoreFirst Bank & Trust Takes Position in Portland General Electric (NYSE:POR)

CoreFirst Bank & Trust bought a new stake in shares of Portland General Electric (NYSE:POR) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,165 shares of the utilities provider’s stock, valued at approximately $182,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Portland General Electric during the fourth quarter worth about $29,000. Versant Capital Management Inc raised its holdings in shares of Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after buying an additional 450 shares during the period. Cullen Frost Bankers Inc. lifted its position in Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 769 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Portland General Electric by 352.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 1,096 shares during the period. Finally, USA Financial Formulas acquired a new stake in Portland General Electric in the fourth quarter valued at approximately $71,000.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the transaction, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on POR. Jefferies Financial Group reduced their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Evercore ISI upped their price objective on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Barclays lifted their target price on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. UBS Group reiterated a “neutral” rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Finally, Bank of America lowered their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and an average target price of $47.00.

Portland General Electric Trading Down 0.7 %

Shares of NYSE POR opened at $43.44 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The stock’s 50 day moving average price is $42.86 and its two-hundred day moving average price is $45.15. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The stock has a market capitalization of $4.76 billion, a P/E ratio of 14.43, a PEG ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same period in the prior year, the company posted $0.67 EPS. On average, analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.60%. Portland General Electric’s dividend payout ratio (DPR) is 66.45%.

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.