Menard Financial Group LLC Boosts Position in Portland General Electric (NYSE:POR)

Menard Financial Group LLC grew its stake in shares of Portland General Electric (NYSE:POR) by 32.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,648 shares of the utilities provider’s stock after buying an additional 1,378 shares during the period. Menard Financial Group LLC’s holdings in Portland General Electric were worth $246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC purchased a new position in Portland General Electric during the fourth quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. bought a new position in Portland General Electric in the 4th quarter valued at $29,000. Cullen Frost Bankers Inc. grew its position in shares of 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 valued at $36,000 after purchasing an additional 769 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Portland General Electric in the fourth quarter worth $52,000. Finally, EverSource Wealth Advisors LLC raised its position 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 in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on POR shares. KeyCorp cut Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 target price for the company. in a research report on Wednesday, May 14th. BMO Capital Markets initiated coverage on Portland General Electric in a research report on Tuesday, May 13th. They set a “market perform” rating and a $46.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Portland General Electric from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, May 19th. Barclays cut their price target on shares of Portland General Electric from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Finally, Evercore ISI cut their target price on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Portland General Electric currently has an average rating of “Hold” and a consensus target price of $45.60.

Insider Activity

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of Portland General Electric stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the transaction, the executive vice president now directly owns 32,646 shares of the company’s stock, valued at $1,404,430.92. The trade was a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Portland General Electric Price Performance

Shares of Portland General Electric stock opened at $41.97 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The company has a fifty day moving average of $42.65 and a 200-day moving average of $43.50. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. During the same period in the prior year, the firm earned $1.21 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Tuesday, June 24th. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.50. Portland General Electric’s payout ratio is 73.94%.

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.