Fox Hill Wealth Management Purchases 846 Shares of Portland General Electric (NYSE:POR)

Fox Hill Wealth Management lifted its stake in Portland General Electric (NYSE:POR) by 2.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 30,342 shares of the utilities provider’s stock after purchasing an additional 846 shares during the quarter. Fox Hill Wealth Management’s holdings in Portland General Electric were worth $1,324,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

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

Portland General Electric Stock Performance

NYSE POR opened at $44.52 on Wednesday. The stock has a market capitalization of $4.88 billion, a PE ratio of 14.79, a P/E/G ratio of 1.11 and a beta of 0.55. The business has a 50 day simple moving average of $42.67 and a two-hundred day simple moving average of $45.27. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a 1-year low of $40.05 and a 1-year high of $49.85.

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

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is 66.45%.

Insider Transactions at Portland General Electric

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

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.