Goldman Sachs Group Inc. Acquires 366,640 Shares of Portland General Electric Company $POR

Key Points

• Goldman Sachs Group Inc. increased its holdings in Portland General Electric by 14.6%, acquiring an additional 366,640 shares during the 1st quarter, bringing its total ownership to approximately 2.63% of the company.
• Research analysts have recently issued mixed ratings for Portland General Electric, with Zacks upgrading it to a "hold" rating while JPMorgan and Barclays lowered their price targets on the stock.
• Portland General Electric has announced a quarterly dividend of $0.525 per share, yielding 4.9%, with a payment date set for October 15th.

Goldman Sachs Group Inc. grew its holdings in Portland General Electric Company (NYSE:POR - Free Report) by 14.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,878,528 shares of the utilities provider's stock after purchasing an additional 366,640 shares during the quarter. Goldman Sachs Group Inc. owned approximately 2.63% of Portland General Electric worth $128,382,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. 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 worth $556,266,000 after acquiring an additional 559,201 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Portland General Electric by 22.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider's stock worth $216,950,000 after acquiring an additional 904,692 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. raised its stake in shares of Portland General Electric by 164.5% during the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,400,635 shares of the utilities provider's stock worth $196,268,000 after acquiring an additional 2,736,811 shares in 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 worth $100,598,000 after acquiring an additional 463,685 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Portland General Electric by 3.7% during the 1st quarter. Invesco Ltd. now owns 2,282,513 shares of the utilities provider's stock worth $101,800,000 after acquiring an additional 82,427 shares in the last quarter.

Insiders Place Their Bets

In other Portland General Electric news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction dated Monday, July 21st. The stock was 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 of the company's stock, valued at approximately $541,710.90. This trade represents a 12.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $41.35, for a total value of $107,634.05. Following the sale, the chief financial officer directly owned 27,089 shares in the company, valued at $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. In the last three months, insiders have sold 23,436 shares of company stock valued at $988,388. Company insiders own 0.40% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Barclays cut their price target on shares of 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. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Portland General Electric currently has a consensus rating of "Hold" and an average target price of $45.40.

Portland General Electric Trading Up 0.5%

Shares of Portland General Electric stock opened at $42.46 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28. Portland General Electric Company has a 12-month low of $39.54 and a 12-month high of $49.85. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 3.86 and a beta of 0.63. The firm's 50 day simple moving average is $41.80 and its two-hundred day simple moving average is $42.26.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The company 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 firm posted $0.69 earnings per share. The firm's quarterly revenue was up 6.5% on a year-over-year basis. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Analysts predict that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

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

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