A. D. Beadell Investment Counsel Inc. acquired a new position in shares of Portland General Electric Company (NYSE:POR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,660 shares of the utilities provider's stock, valued at approximately $676,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Private Trust Co. NA lifted its holdings in shares of Portland General Electric by 62.6% in the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after acquiring an additional 244 shares during the last quarter. Menard Financial Group LLC lifted its holdings in shares of Portland General Electric by 4.6% in the first quarter. Menard Financial Group LLC now owns 5,905 shares of the utilities provider's stock worth $251,000 after acquiring an additional 257 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Portland General Electric by 1.6% in the first quarter. Private Advisor Group LLC now owns 17,986 shares of the utilities provider's stock worth $802,000 after acquiring an additional 279 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Portland General Electric by 25.3% in the first quarter. Hexagon Capital Partners LLC now owns 1,443 shares of the utilities provider's stock worth $64,000 after acquiring an additional 291 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Portland General Electric by 1.9% in the first quarter. Benjamin Edwards Inc. now owns 17,820 shares of the utilities provider's stock worth $795,000 after acquiring an additional 330 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on POR. Barclays dropped their target price on shares of Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a report on Tuesday, July 22nd. Zacks Research raised shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $45.40.
Read Our Latest Report on Portland General Electric
Insider Buying and Selling at Portland General Electric
In other news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $41.35, for a total transaction of $107,634.05. Following the completion of the sale, the chief financial officer owned 27,089 shares of the company's stock, valued at $1,120,130.15. This trade represents a 8.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael A. Lewis sold 1,937 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $40.10, for a total transaction of $77,673.70. Following the sale, the director directly owned 13,509 shares of the company's stock, valued at approximately $541,710.90. This trade represents a 12.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,436 shares of company stock valued at $988,388. 0.40% of the stock is currently owned by company insiders.
Portland General Electric Stock Performance
NYSE:POR opened at $42.68 on Friday. The company has a market capitalization of $4.68 billion, a PE ratio of 15.75, a P/E/G ratio of 4.00 and a beta of 0.63. The company has a 50 day simple moving average of $42.15 and a two-hundred day simple moving average of $42.14. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $49.85.
Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. The business had revenue of $807.00 million during the quarter, compared to the consensus estimate of $797.97 million. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Research analysts anticipate that Portland General Electric Company will post 3.21 earnings per share for the current year.
Portland General Electric Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, September 25th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, September 25th. Portland General Electric's dividend payout ratio is currently 77.49%.
Portland General Electric Profile
(
Free Report)
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.
Further Reading
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