Cbre Investment Management Listed Real Assets LLC Sells 289,488 Shares of Portland General Electric Company $POR

Key Points

• Cbre Investment Management Listed Real Assets LLC reduced its stake in Portland General Electric by 25.1%, selling 289,488 shares, now owning approximately 0.79% of the company valued at $38.6 million.
• Portland General Electric posted a quarterly EPS of $0.66, exceeding analysts' expectations, with a revenue of $807 million, marking a 6.5% increase compared to the same quarter last year.
• The company declared a quarterly dividend of $0.525 per share, with an ex-dividend date of September 25th, resulting in an annualized dividend yield of 4.9% and a payout ratio of 77.49%.

Cbre Investment Management Listed Real Assets LLC reduced its position in Portland General Electric Company (NYSE:POR - Free Report) by 25.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 865,426 shares of the utilities provider's stock after selling 289,488 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned approximately 0.79% of Portland General Electric worth $38,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of POR. AlphaQuest LLC lifted its holdings in shares of Portland General Electric by 14.4% in the first quarter. AlphaQuest LLC now owns 37,306 shares of the utilities provider's stock worth $1,664,000 after buying an additional 4,707 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Portland General Electric by 14.2% in the first quarter. Ameriprise Financial Inc. now owns 978,896 shares of the utilities provider's stock worth $43,671,000 after buying an additional 121,559 shares in the last quarter. Martingale Asset Management L P lifted its holdings in shares of Portland General Electric by 15.5% in the first quarter. Martingale Asset Management L P now owns 75,489 shares of the utilities provider's stock worth $3,367,000 after buying an additional 10,136 shares in the last quarter. Capital Fund Management S.A. raised its stake in Portland General Electric by 178.5% during the first quarter. Capital Fund Management S.A. now owns 84,505 shares of the utilities provider's stock valued at $3,769,000 after purchasing an additional 54,160 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in Portland General Electric during the first quarter valued at $254,000.

Portland General Electric Trading Up 1.7%

Shares of POR traded up $0.72 during midday trading on Wednesday, hitting $43.05. The stock had a trading volume of 1,102,869 shares, compared to its average volume of 1,178,607. Portland General Electric Company has a 1 year low of $39.54 and a 1 year high of $49.85. The firm has a market cap of $4.72 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 3.88 and a beta of 0.55. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84. The stock's 50 day moving average is $41.31 and its 200 day moving average is $42.26.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The business had revenue of $807.00 million for the quarter, compared to the consensus estimate of $797.97 million. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The business's revenue for the quarter 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. As a group, analysts forecast that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on POR. KeyCorp downgraded shares of 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 note on Wednesday, May 14th. Barclays decreased their price target on shares of Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 22nd. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and upped their price target for the company from $47.00 to $50.00 in a research note on Monday, May 5th. BMO Capital Markets began coverage on shares of Portland General Electric in a research note on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price target on the stock. Finally, Zacks Research raised shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Portland General Electric presently has an average rating of "Hold" and a consensus target price of $45.40.

Insider Transactions at Portland General Electric

In other news, Director Michael A. Lewis sold 1,937 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $40.10, for a total value of $77,673.70. Following the transaction, the director directly owned 13,509 shares in the company, valued at approximately $541,710.90. This represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the company's stock in a transaction dated 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 owned 27,089 shares in the company, valued at approximately $1,120,130.15. The trade was a 8.77% 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.

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.