Valley Wealth Managers Inc. Has $4.49 Million Holdings in Portland General Electric (NYSE:POR)

Valley Wealth Managers Inc. cut its stake in shares of Portland General Electric (NYSE:POR) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 93,727 shares of the utilities provider’s stock after selling 2,739 shares during the period. Valley Wealth Managers Inc. owned about 0.09% of Portland General Electric worth $4,490,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of POR. SG Americas Securities LLC increased its holdings in shares of Portland General Electric by 25.9% during the first quarter. SG Americas Securities LLC now owns 6,994 shares of the utilities provider’s stock worth $294,000 after buying an additional 1,439 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Portland General Electric by 4.1% in the first quarter. Russell Investments Group Ltd. now owns 140,826 shares of the utilities provider’s stock valued at $5,915,000 after purchasing an additional 5,603 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Portland General Electric by 4.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 29,109 shares of the utilities provider’s stock valued at $1,223,000 after purchasing an additional 1,370 shares during the period. Edgestream Partners L.P. increased its holdings in Portland General Electric by 299.1% in the first quarter. Edgestream Partners L.P. now owns 102,993 shares of the utilities provider’s stock valued at $4,326,000 after purchasing an additional 77,185 shares during the period. Finally, Jacobi Capital Management LLC increased its holdings in Portland General Electric by 11.4% in the first quarter. Jacobi Capital Management LLC now owns 6,915 shares of the utilities provider’s stock valued at $290,000 after purchasing an additional 710 shares during the period.

Portland General Electric Stock Up 0.9 %

Shares of POR stock traded up $0.41 on Friday, reaching $46.30. 86,638 shares of the company were exchanged, compared to its average volume of 950,397. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.18 and a beta of 0.59. The company has a 50-day moving average of $47.62 and a 200-day moving average of $45.91. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. Portland General Electric has a one year low of $39.13 and a one year high of $49.85.

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

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.32%. Portland General Electric’s payout ratio is 59.70%.

Insider Activity at Portland General Electric

In other Portland General Electric 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 completion of the sale, the senior vice president now owns 14,263 shares in the company, valued at approximately $688,902.90. This trade represents a 14.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

POR has been the subject of a number of recent research reports. Bank of America initiated coverage on Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective for the company. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Barclays cut their price target on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group began coverage on shares of Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and an average target price of $48.86.

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.