Portland General Electric Company $POR Shares Purchased by Algert Global LLC

Key Points

• Algert Global LLC raised its stake in Portland General Electric Company by 9.7%, acquiring an additional 38,410 shares in the 1st quarter, bringing its total ownership to approximately $19.39 million.
• Portland General Electric plans to pay a quarterly dividend of $0.525 per share on October 15th, providing an annualized yield of 5.0% for investors.
• Analysts have mixed views on Portland General Electric; UBS upgraded it to a "buy" rating with a price target of $50, while Wells Fargo reduced its price target from $46 to $44.

Algert Global LLC raised its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 434,670 shares of the utilities provider's stock after acquiring an additional 38,410 shares during the period. Portland General Electric makes up 0.5% of Algert Global LLC's portfolio, making the stock its 8th biggest holding. Algert Global LLC owned approximately 0.40% of Portland General Electric worth $19,386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in POR. Wayfinding Financial LLC bought a new position in shares of Portland General Electric in the first quarter worth about $27,000. True Wealth Design LLC bought a new position in Portland General Electric in the 4th quarter worth approximately $27,000. Private Trust Co. NA increased its position in Portland General Electric by 62.6% in the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after buying an additional 244 shares during the period. Global X Japan Co. Ltd. increased its position in Portland General Electric by 113.1% in the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock worth $29,000 after buying an additional 345 shares during the period. Finally, Costello Asset Management INC bought a new position in Portland General Electric in the 1st quarter worth approximately $46,000.

Portland General Electric Price Performance

NYSE POR traded down $0.1750 on Wednesday, reaching $42.4750. The company's stock had a trading volume of 951,544 shares, compared to its average volume of 1,178,276. The firm has a market cap of $4.65 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 3.83 and a beta of 0.55. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $49.85. The business has a 50-day moving average price of $41.13 and a 200 day moving average price of $42.21.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data 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. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.The company had revenue of $807.00 million for the quarter, compared to the consensus estimate of $797.97 million. During the same period in the previous year, the business earned $0.69 earnings per share. The company's quarterly revenue was up 6.5% on a year-over-year basis. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Sell-side analysts expect that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, September 25th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Thursday, September 25th. Portland General Electric's dividend payout ratio is 77.49%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $41.35, for a total transaction of $107,634.05. Following the completion of the transaction, the chief financial officer directly owned 27,089 shares in the company, valued at $1,120,130.15. This represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $40.10, for a total value of $77,673.70. Following the transaction, the director owned 13,509 shares of the company's stock, valued at $541,710.90. This represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on POR shares. KeyCorp downgraded Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target on the stock. in a research report on Wednesday, May 14th. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $47.00 to $50.00 in a research report on Monday, May 5th. Evercore ISI dropped their price target on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. dropped their price target on 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. Finally, Wall Street Zen raised Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $45.40.

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.