Federated Hermes Inc. Acquires 34,156 Shares of Portland General Electric Company (NYSE:POR)

Key Points

• Federated Hermes Inc. increased its stake in Portland General Electric by 19.3% in Q1, owning 211,049 shares valued at approximately $9.41 million.
• Portland General Electric reported a quarterly EPS of $0.66, exceeding analyst estimates, with revenues of $807 million, marking a 6.5% year-over-year increase.
• The company declared a quarterly dividend of $0.525 per share, reflecting a 5.1% yield and a payout ratio of 77.49% for investors recorded by September 25th.

Federated Hermes Inc. grew its position in Portland General Electric Company (NYSE:POR - Free Report) by 19.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 211,049 shares of the utilities provider's stock after purchasing an additional 34,156 shares during the quarter. Federated Hermes Inc. owned about 0.19% of Portland General Electric worth $9,413,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in shares of Portland General Electric by 3.7% during the fourth quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider's stock worth $6,166,000 after buying an additional 5,084 shares in the last quarter. LPL Financial LLC grew its stake in Portland General Electric by 33.7% during the fourth quarter. LPL Financial LLC now owns 48,700 shares of the utilities provider's stock worth $2,124,000 after buying an additional 12,265 shares in the last quarter. Blair William & Co. IL increased its stake in Portland General Electric by 13.2% in the fourth quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider's stock valued at $258,000 after acquiring an additional 692 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in Portland General Electric by 8.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 17,442 shares of the utilities provider's stock worth $761,000 after purchasing an additional 1,343 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in shares of Portland General Electric in the 4th quarter valued at $811,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on POR. Barclays reduced their target price 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. Evercore ISI decreased their target price on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. BMO Capital Markets initiated 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. 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 report on Wednesday, May 14th. Finally, UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and lifted their target price for the company from $47.00 to $50.00 in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $45.40.

Insider Buying and Selling

In related news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of Portland General Electric 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 directly owned 27,089 shares of the company's stock, valued at $1,120,130.15. The trade was a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. Lewis sold 1,937 shares of Portland General Electric stock in a transaction that occurred on 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 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 owned by insiders.

Portland General Electric Trading Up 1.7%

Shares of NYSE:POR traded up $0.69 during midday trading on Monday, hitting $42.14. 1,099,725 shares of the stock were exchanged, compared to its average volume of 1,194,250. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 3.79 and a beta of 0.55. 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 $41.00 and its 200 day moving average price is $42.15. 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 released its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $807.00 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 earnings per share. 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 $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, September 25th. Portland General Electric's payout ratio is currently 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.