Assenagon Asset Management S.A. Takes $890,000 Position in Portland General Electric Company $POR

Key Points

• Assenagon Asset Management S.A. has acquired a new position in Portland General Electric Company, purchasing 21,910 shares valued at approximately $890,000 during the 2nd quarter.
• CEO Maria M. Pope sold 18,896 shares of the company stock, decreasing their ownership by 8.87%, while CFO Joseph R. Trpik, Jr. also sold 2,603 shares, marking a 8.77% reduction in their position.
• The company's stock has risen 1.8% to $43.47, with a recent quarterly dividend announcement of $0.525, providing an annual yield of 4.8%.

Assenagon Asset Management S.A. acquired a new stake in Portland General Electric Company (NYSE:POR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 21,910 shares of the utilities provider's stock, valued at approximately $890,000.

Several other large investors also recently made changes to their positions in POR. ATLAS Infrastructure Partners UK Ltd. lifted its holdings in Portland General Electric by 164.5% during the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,400,635 shares of the utilities provider's stock valued at $196,268,000 after purchasing an additional 2,736,811 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Portland General Electric by 644.2% during the 1st quarter. AQR Capital Management LLC now owns 2,014,491 shares of the utilities provider's stock valued at $89,846,000 after purchasing an additional 1,743,791 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Portland General Electric by 22.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider's stock valued at $216,950,000 after purchasing an additional 904,692 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Portland General Electric by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider's stock valued at $556,266,000 after purchasing an additional 559,201 shares during the last quarter. Finally, Brown Advisory Inc. lifted its holdings in Portland General Electric by 54.0% during the 1st quarter. Brown Advisory Inc. now owns 1,085,699 shares of the utilities provider's stock valued at $48,422,000 after purchasing an additional 380,749 shares during the last quarter.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, CEO Maria M. Pope sold 18,896 shares of Portland General Electric stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total value of $803,080.00. Following the transaction, the chief executive officer owned 194,135 shares in the company, valued at $8,250,737.50. The trade was a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of Portland General Electric stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $41.35, for a total value of $107,634.05. Following the completion of the transaction, the chief financial officer owned 27,089 shares in the company, valued at approximately $1,120,130.15. This represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,436 shares of company stock worth $988,388 over the last 90 days. Insiders own 0.40% of the company's stock.

Portland General Electric Stock Up 1.8%

Shares of NYSE POR opened at $43.47 on Friday. 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 52 week low of $39.54 and a 52 week high of $49.85. The stock has a market capitalization of $4.76 billion, a P/E ratio of 16.04, a PEG ratio of 3.97 and a beta of 0.63. The stock's fifty day moving average is $42.22 and its 200 day moving average is $42.12.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping 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 analysts' expectations of $797.97 million. During the same quarter last year, the business earned $0.69 earnings per share. Portland General Electric's 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 forecast that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm 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 $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Thursday, September 25th. Portland General Electric's payout ratio is currently 77.49%.

Analyst Ratings Changes

Several research firms have weighed in on POR. Barclays lowered their price objective on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 22nd. Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.

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