Outlook Wealth Advisors LLC Has $332,000 Holdings in Portland General Electric (NYSE:POR)

Outlook Wealth Advisors LLC decreased its position in Portland General Electric (NYSE:POR) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,907 shares of the utilities provider’s stock after selling 633 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Portland General Electric were worth $332,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. IFM Investors Pty Ltd grew its position in shares of Portland General Electric by 3.3% during the 1st quarter. IFM Investors Pty Ltd now owns 14,083 shares of the utilities provider’s stock worth $591,000 after purchasing an additional 445 shares in the last quarter. State of Michigan Retirement System raised its holdings in Portland General Electric by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 24,800 shares of the utilities provider’s stock valued at $1,042,000 after acquiring an additional 500 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Portland General Electric by 140.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 919 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 537 shares during the period. Oliver Luxxe Assets LLC acquired a new stake in shares of Portland General Electric during the 1st quarter worth $700,000. Finally, Fox Hill Wealth Management increased its position in shares of Portland General Electric by 5.6% in the first quarter. Fox Hill Wealth Management now owns 26,991 shares of the utilities provider’s stock worth $1,134,000 after purchasing an additional 1,429 shares during the period.

Portland General Electric Trading Down 1.0 %

Shares of Portland General Electric stock traded down $0.45 during trading on Friday, hitting $42.80. The company’s stock had a trading volume of 1,517,939 shares, compared to its average volume of 881,118. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 18.37 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.84 and a quick ratio of 0.74. Portland General Electric has a 52 week low of $38.01 and a 52 week high of $51.58. The stock has a 50-day moving average price of $41.37 and a two-hundred day moving average price of $41.51.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $828.94 million. During the same quarter in the prior year, the firm posted $0.80 EPS. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. Equities research analysts anticipate that Portland General Electric will post 3.07 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.67%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, June 21st. Portland General Electric’s payout ratio is currently 85.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Bank of America downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $55.00 to $43.00 in a research note on Monday, February 5th. StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Mizuho reaffirmed a “neutral” rating and issued a $42.00 price objective (down from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and decreased their target price for the company from $47.00 to $45.00 in a research report on Monday, January 29th. Finally, Barclays reduced their price target on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $45.13.

Insider Activity at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the transaction, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at $1,297,170. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is owned by corporate insiders.

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.