Segall Bryant & Hamill LLC Lowers Stock Position in Portland General Electric (NYSE:POR)

Segall Bryant & Hamill LLC trimmed its position in Portland General Electric (NYSE:POR) by 0.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 131,981 shares of the utilities provider’s stock after selling 731 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Portland General Electric were worth $6,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Portland General Electric in the third quarter worth approximately $25,000. LRI Investments LLC bought a new position in Portland General Electric in the 1st quarter worth $26,000. Massmutual Trust Co. FSB ADV increased its stake in Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after buying an additional 514 shares in the last quarter. Allworth Financial LP increased its stake in Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after buying an additional 265 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Portland General Electric during the second quarter valued at about $33,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on POR shares. Barclays cut their target price on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Bank of America initiated coverage on shares of Portland General Electric in a report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective for the company. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI initiated coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target on the stock. Finally, Jefferies Financial Group began coverage on shares of Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Portland General Electric has an average rating of “Hold” and an average price target of $48.86.

Insider Transactions at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. This represents a 14.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Portland General Electric Stock Up 1.3 %

Shares of NYSE:POR opened at $47.49 on Friday. The company has a 50-day moving average price of $47.47 and a 200 day moving average price of $46.01. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 1.20 and a beta of 0.59.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 EPS. As a group, equities research analysts predict that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is currently 59.70%.

About Portland General Electric

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.