Goldman Sachs Group Inc. Raises Stake in 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% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,878,528 shares of the utilities provider's stock after purchasing an additional 366,640 shares during the period. Goldman Sachs Group Inc. owned approximately 2.63% of Portland General Electric worth $128,382,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new position in Portland General Electric in the 1st quarter valued at approximately $27,000. Private Trust Co. NA boosted its holdings in shares of Portland General Electric by 62.6% in the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after acquiring an additional 244 shares during the period. Global X Japan Co. Ltd. boosted its holdings in shares of Portland General Electric by 113.1% in the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock worth $29,000 after acquiring an additional 345 shares during the period. Costello Asset Management INC purchased a new position in shares of Portland General Electric in the first quarter valued at $46,000. Finally, Hexagon Capital Partners LLC raised its stake in shares of Portland General Electric by 25.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,443 shares of the utilities provider's stock valued at $64,000 after purchasing an additional 291 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Barclays lowered 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 report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $45.40.

Insiders Place Their Bets

In other Portland General Electric news, CEO Maria M. Pope sold 18,896 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total value of $803,080.00. Following the completion of the sale, the chief executive officer owned 194,135 shares in the company, valued at approximately $8,250,737.50. This trade represents a 8.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of Portland General Electric 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 sale, the chief financial officer owned 27,089 shares in the company, valued at approximately $1,120,130.15. This trade represents a 8.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,436 shares of company stock worth $988,388. 0.40% of the stock is currently owned by company insiders.

Portland General Electric Trading Up 1.1%

Shares of NYSE:POR traded up $0.47 on Wednesday, reaching $42.29. 73,585 shares of the company traded hands, compared to its average volume of 1,164,743. The stock has a market capitalization of $4.63 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 3.87 and a beta of 0.63. The business's 50-day simple moving average is $41.87 and its 200 day simple moving average is $42.20. 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 52 week low of $39.54 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating 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 company had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. During the same quarter in the previous year, the company posted $0.69 EPS. Portland General Electric's revenue for the quarter 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. As a group, equities analysts anticipate that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

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 paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, September 25th. Portland General Electric's dividend payout ratio is 77.49%.

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.