Deutsche Bank AG Boosts Holdings in Portland General Electric Company (NYSE:POR)

Deutsche Bank AG lifted its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 31.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 294,325 shares of the utilities provider's stock after buying an additional 69,865 shares during the period. Deutsche Bank AG owned approximately 0.27% of Portland General Electric worth $13,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in Portland General Electric in the fourth quarter worth approximately $27,000. Wayfinding Financial LLC purchased a new position in shares of Portland General Electric during the 1st quarter worth $27,000. Private Trust Co. NA increased its position in shares of Portland General Electric by 62.6% during the 1st 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 last quarter. Global X Japan Co. Ltd. increased its position in shares of Portland General Electric by 113.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock worth $29,000 after purchasing an additional 345 shares during the last quarter. Finally, Costello Asset Management INC purchased a new stake in Portland General Electric in the 1st quarter valued at about $46,000.

Wall Street Analysts Forecast Growth

POR has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. Barclays decreased their price objective on shares of 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. Wells Fargo & Company lowered their price objective on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. BMO Capital Markets started coverage on Portland General Electric in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 target price on the stock. Finally, Wall Street Zen upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.40.

Insiders Place Their Bets

In related news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the business's stock in a transaction on Friday, August 1st. The shares were 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael A. Lewis sold 1,937 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $40.10, for a total value of $77,673.70. Following the completion of the sale, the director 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 disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Portland General Electric Trading Down 0.7%

POR opened at $42.66 on Friday. The business has a fifty day moving average price of $41.06 and a 200 day moving average price of $42.19. 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 12 month low of $39.54 and a 12 month high of $49.85. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 3.93 and a beta of 0.55.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $807.00 million during the quarter, compared to the consensus estimate of $797.97 million. During the same period in the previous year, the company posted $0.69 earnings per share. The business's revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts expect that Portland General Electric Company will post 3.21 earnings per share 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. Stockholders of record on Thursday, September 25th will be issued a $0.525 dividend. 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 dividend payout ratio (DPR) is presently 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.

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