Comerica Bank Reduces Stock Holdings in Portland General Electric Company $POR

Key Points

• Comerica Bank has reduced its stake in Portland General Electric Company by 18.3%, now owning approximately 97,445 shares worth $4.35 million after selling 21,821 shares.
• The company recently reported a quarterly EPS of $0.66, exceeding estimates, with a revenue of $807 million, marking a 6.5% increase from the previous year.
• Portland General Electric declared a quarterly dividend of $0.525, translating to an annual yield of 4.9%, with a payout ratio of 77.49%.

Comerica Bank cut its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 18.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 97,445 shares of the utilities provider's stock after selling 21,821 shares during the period. Comerica Bank owned 0.09% of Portland General Electric worth $4,346,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Stifel Financial Corp grew its stake in Portland General Electric by 7.9% in the fourth quarter. Stifel Financial Corp now owns 56,057 shares of the utilities provider's stock worth $2,445,000 after purchasing an additional 4,095 shares during the period. Hsbc Holdings PLC grew its stake in Portland General Electric by 37.5% in the fourth quarter. Hsbc Holdings PLC now owns 9,318 shares of the utilities provider's stock worth $405,000 after purchasing an additional 2,542 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Portland General Electric by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 151,644 shares of the utilities provider's stock worth $6,616,000 after purchasing an additional 28,589 shares during the period. Quarry LP grew its stake in Portland General Electric by 110.4% in the fourth quarter. Quarry LP now owns 1,471 shares of the utilities provider's stock worth $64,000 after purchasing an additional 772 shares during the period. Finally, Tudor Investment Corp ET AL grew its stake in Portland General Electric by 466.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 107,509 shares of the utilities provider's stock worth $4,690,000 after purchasing an additional 88,526 shares during the period.

Wall Street Analysts Forecast Growth

POR has been the topic of several recent research reports. BMO Capital Markets initiated 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 on the stock. JPMorgan Chase & Co. reduced their price target on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. KeyCorp cut Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price on the stock. in a research note on Wednesday, May 14th. Barclays cut their target price on 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. Finally, Zacks Research raised Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Portland General Electric has a consensus rating of "Hold" and an average target price of $45.40.

Portland General Electric Stock Performance

Shares of Portland General Electric stock traded down $0.07 during trading on Thursday, hitting $42.66. 909,235 shares of the company's stock traded hands, compared to its average volume of 985,346. 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 1 year low of $39.54 and a 1 year high of $49.85. The stock has a market capitalization of $4.67 billion, a P/E ratio of 15.74, a PEG ratio of 3.91 and a beta of 0.63. The business has a 50-day simple moving average of $41.64 and a 200-day simple moving average of $42.31.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating 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 last year, the firm posted $0.69 earnings per share. 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, analysts forecast that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

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

Insider Buying and Selling at Portland General Electric

In related 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 sale, the chief financial officer directly owned 27,089 shares of the company's stock, valued at $1,120,130.15. This trade represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael A. Lewis sold 1,937 shares of the firm's 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 completion of the transaction, the director directly owned 13,509 shares in the company, valued at $541,710.90. The trade was a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.