Portland General Electric Company $POR Shares Sold by Channing Capital Management LLC

Key Points

• Channing Capital Management LLC has reduced its stake in Portland General Electric Company by 12.8%, selling 234,484 shares and now holding approximately 1,597,380 shares.
• Portland General Electric has announced a quarterly dividend of $0.525 per share, with a dividend yield of 4.9% and an annualized dividend of $2.10.
• Despite a positive quarterly earnings report, analysts have adjusted price targets for Portland General Electric, with JPMorgan reducing theirs from $46.00 to $45.00 and Wells Fargo from $46.00 to $44.00.

Channing Capital Management LLC trimmed its position in Portland General Electric Company (NYSE:POR - Free Report) by 12.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,597,380 shares of the utilities provider's stock after selling 234,484 shares during the period. Portland General Electric accounts for about 2.2% of Channing Capital Management LLC's investment portfolio, making the stock its 19th biggest holding. Channing Capital Management LLC owned about 1.46% of Portland General Electric worth $71,243,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in shares of Portland General Electric in the 1st quarter worth approximately $27,000. True Wealth Design LLC bought a new position in Portland General Electric during the fourth quarter worth $27,000. Private Trust Co. NA boosted its holdings in 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 purchasing an additional 244 shares during the period. Global X Japan Co. Ltd. increased its stake in Portland General Electric by 113.1% during the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 345 shares during the last quarter. Finally, Costello Asset Management INC acquired a new stake in shares of Portland General Electric during the first quarter worth $46,000.

Insider Transactions at Portland General Electric

In other Portland General Electric news, Director Michael A. Lewis sold 1,937 shares of the business's stock in a transaction dated Monday, July 21st. The shares were 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 in the company, valued at approximately $541,710.90. The trade was a 12.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 27,089 shares of the company's stock, valued at approximately $1,120,130.15. This represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of Portland General Electric in a report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target for the company. Evercore ISI decreased their target price on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Zacks Research raised Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Barclays cut their price target on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 22nd. Finally, Wells Fargo & Company lowered their price objective on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $45.40.

Portland General Electric Stock Performance

Shares of POR traded up $0.8510 during mid-day trading on Friday, reaching $43.0510. 1,294,843 shares of the company's stock traded hands, compared to its average volume of 1,200,511. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97. The business's 50-day moving average price is $41.22 and its 200-day moving average price is $42.25. The stock has a market capitalization of $4.72 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 3.94 and a beta of 0.55. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. The business had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.The business's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Equities analysts predict that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

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

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.