Massachusetts Financial Services Co. MA Purchases 544 Shares of Portland General Electric (NYSE:POR)

Massachusetts Financial Services Co. MA lifted its holdings in shares of Portland General Electric (NYSE:POR) by 0.0% in the 3rd quarter, Holdings Channel reports. The firm owned 2,689,348 shares of the utilities provider’s stock after acquiring an additional 544 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Portland General Electric were worth $128,820,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in POR. Massmutual Trust Co. FSB ADV raised its stake in shares of Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 514 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Portland General Electric in the third quarter worth $25,000. LRI Investments LLC bought a new stake in shares of Portland General Electric during the 1st quarter valued at about $26,000. Allworth Financial LP grew its holdings in shares of Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 265 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Portland General Electric in the second quarter worth $33,000.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $47.57 on Friday. The firm has a market capitalization of $5.02 billion, a P/E ratio of 14.20, a PEG ratio of 1.21 and a beta of 0.59. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The company has a 50 day moving average price of $47.45 and a 200 day moving average price of $46.05.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $929.00 million during the quarter, compared to the consensus estimate 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 for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 earnings per share. Sell-side analysts expect that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.20%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is currently 59.70%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Evercore ISI initiated coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target for the company. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays lowered their target price on 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. JPMorgan Chase & Co. raised their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Bank of America assumed coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.86.

Insider Buying and Selling

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s 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 transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. This trade represents a 14.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by insiders.

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.