Great Lakes Advisors LLC Cuts Position 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 reduced its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,891 shares of the utilities provider's stock after selling 16,538 shares during the period. Great Lakes Advisors LLC owned 0.11% of Portland General Electric worth $5,258,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its stake in shares of Portland General Electric by 14.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,878,528 shares of the utilities provider's stock valued at $128,382,000 after purchasing an additional 366,640 shares in the last quarter. Millennium Management LLC boosted its holdings in Portland General Electric by 465.5% in the first quarter. Millennium Management LLC now owns 151,134 shares of the utilities provider's stock worth $6,741,000 after purchasing an additional 124,410 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Portland General Electric by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,949 shares of the utilities provider's stock worth $2,763,000 after acquiring an additional 2,717 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Portland General Electric by 644.2% during the 1st quarter. AQR Capital Management LLC now owns 2,014,491 shares of the utilities provider's stock worth $89,846,000 after acquiring an additional 1,743,791 shares during the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. boosted 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 during the last quarter.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the business's stock in a transaction that occurred 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. The trade was a 8.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Maria M. Pope sold 18,896 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $42.50, for a total transaction of $803,080.00. Following the completion of the sale, the chief executive officer owned 194,135 shares of the company's stock, valued at approximately $8,250,737.50. This trade represents a 8.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,436 shares of company stock worth $988,388. 0.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. 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 research report on Tuesday, July 22nd. JPMorgan Chase & Co. dropped their price target 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, Zacks Research raised shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Portland General Electric presently has an average rating of "Hold" and an average price target of $45.40.

Portland General Electric Price Performance

POR traded up $0.08 during midday trading on Friday, hitting $42.56. 972,417 shares of the company traded hands, compared to its average volume of 1,057,660. Portland General Electric Company has a 52-week low of $39.54 and a 52-week high of $49.85. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28. The business has a 50 day simple moving average of $41.82 and a two-hundred day simple moving average of $42.25. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 3.88 and a beta of 0.63.

Portland General Electric (NYSE:POR - Get Free Report) last posted 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. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The firm had revenue of $807.00 million for the quarter, compared to the consensus estimate of $797.97 million. During the same period last year, the firm posted $0.69 earnings per share. The company'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. On average, equities analysts forecast 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 declared 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. The ex-dividend date is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a yield of 4.9%. 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.