Great Lakes Advisors LLC Decreases Holdings in Portland General Electric Company $POR

Key Points

• Great Lakes Advisors LLC reduced its holdings in Portland General Electric by 12.3% in Q1 2023, now owning 117,891 shares valued at approximately $5.26 million.
• Portland General Electric declared a quarterly dividend of $0.525, yielding 5.0% annually, payable on October 15th to investors of record on September 25th.
• The company reported $0.66 EPS for the last quarter, slightly exceeding analyst estimates, with revenue increasing by 6.5% year-over-year.

Great Lakes Advisors LLC trimmed its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 12.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,891 shares of the utilities provider's stock after selling 16,538 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.11% of Portland General Electric worth $5,258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new stake in shares of Portland General Electric during the first quarter valued at approximately $27,000. Private Trust Co. NA boosted its position in shares of Portland General Electric by 62.6% during the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after purchasing an additional 244 shares in the last quarter. Global X Japan Co. Ltd. raised its holdings in shares of Portland General Electric by 113.1% during 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 acquired a new stake in shares of Portland General Electric during the first quarter worth $46,000. Finally, Hexagon Capital Partners LLC raised its holdings in shares of Portland General Electric by 25.3% during the first quarter. Hexagon Capital Partners LLC now owns 1,443 shares of the utilities provider's stock worth $64,000 after acquiring an additional 291 shares during the period.

Portland General Electric Stock Up 0.1%

Shares of Portland General Electric stock traded up $0.02 during trading hours on Monday, reaching $42.59. The company's stock had a trading volume of 166,416 shares, compared to its average volume of 1,166,148. The stock's fifty day simple moving average is $41.82 and its two-hundred day simple moving average is $42.22. The company has a market capitalization of $4.67 billion, a P/E ratio of 15.71, a P/E/G ratio of 3.89 and a beta of 0.63. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97. Portland General Electric Company has a one year low of $39.54 and a one year high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $807.00 million during the quarter, compared to the consensus estimate of $797.97 million. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. On average, research analysts forecast that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

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 issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Thursday, September 25th. Portland General Electric's dividend payout ratio (DPR) is 77.49%.

Insider Buying and Selling

In related news, Director Michael A. Lewis sold 1,937 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $40.10, for a total transaction 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 trade represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Maria M. Pope sold 18,896 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total transaction of $803,080.00. Following the transaction, the chief executive officer owned 194,135 shares of the company's stock, valued at $8,250,737.50. This represents a 8.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,436 shares of company stock worth $988,388. Insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on POR. JPMorgan Chase & Co. dropped their price objective on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. 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 research note on Tuesday, July 22nd. Finally, 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. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $45.40.

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.