Portland General Electric Company $POR Shares Purchased by Citigroup Inc.

Key Points

• Citigroup Inc. has increased its stake in Portland General Electric by 12.6%, now owning approximately 0.21% of the company valued at $10.11 million.
• Analysts have set a consensus price target of $45.40 for Portland General Electric, with recent price adjustments by firms like Evercore ISI and Barclays lowering their targets.
• The company announced a $0.525 quarterly dividend to be paid on October 15th, representing an annual yield of 5.0% and a current payout ratio of 77.49%.

Citigroup Inc. increased its position in Portland General Electric Company (NYSE:POR - Free Report) by 12.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,731 shares of the utilities provider's stock after acquiring an additional 25,330 shares during the period. Citigroup Inc. owned approximately 0.21% of Portland General Electric worth $10,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of POR. Fuller & Thaler Asset Management Inc. raised its stake in shares of Portland General Electric by 19.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock valued at $172,720,000 after buying an additional 635,987 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 559,201 shares during the last quarter. Zimmer Partners LP raised its stake in shares of Portland General Electric by 25.2% during the 4th quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider's stock valued at $100,598,000 after buying an additional 463,685 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of 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 buying an additional 380,749 shares during the last quarter. Finally, HITE Hedge Asset Management LLC raised its stake in shares of Portland General Electric by 30.6% during the 4th quarter. HITE Hedge Asset Management LLC now owns 986,930 shares of the utilities provider's stock valued at $43,050,000 after buying an additional 231,354 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have weighed in on POR shares. Wall Street Zen upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Wells Fargo & Company reduced 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. Barclays reduced their price objective on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 22nd. Evercore ISI cut their price target 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. Finally, BMO Capital Markets began coverage on Portland General Electric in a research note on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target for the company. Two research 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. Based on data from MarketBeat.com, Portland General Electric currently has an average rating of "Hold" and an average price target of $45.40.

Insider Activity

In related news, Director Michael A. Lewis sold 1,937 shares of Portland General Electric stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $40.10, for a total value 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 SEC, which is accessible through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the business'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 value of $107,634.05. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

Portland General Electric Price Performance

POR stock traded down $0.2260 during trading on Wednesday, hitting $42.4240. The stock had a trading volume of 283,132 shares, compared to its average volume of 1,173,922. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84. Portland General Electric Company has a twelve month low of $39.54 and a twelve month high of $49.85. The stock has a market capitalization of $4.65 billion, a P/E ratio of 15.66, a PEG ratio of 3.83 and a beta of 0.55. The company's 50-day moving average price is $41.13 and its two-hundred day moving average price is $42.21.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.69 EPS. Portland General Electric's revenue was up 6.5% compared to the same quarter last year. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. As a group, research analysts predict that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, September 25th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 5.0%. The ex-dividend date is Thursday, September 25th. Portland General Electric's payout ratio is presently 77.49%.

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.