HITE Hedge Asset Management LLC Trims Position in Portland General Electric Company $POR

Key Points

• HITE Hedge Asset Management LLC has sold 14,910 shares of Portland General Electric Company, reducing its holdings by 1.5% and maintaining ownership of 972,020 shares, which make up 2.7% of its portfolio.
• Portland General Electric announced a quarterly dividend of $0.525 per share, representing a yield of 5.0%, with payment scheduled for October 15th.
• In recent earnings, the company reported earnings per share of $0.66, slightly exceeding analyst expectations, alongside a revenue increase of 6.5% year-over-year.

HITE Hedge Asset Management LLC trimmed its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 972,020 shares of the utilities provider's stock after selling 14,910 shares during the period. Portland General Electric comprises about 2.7% of HITE Hedge Asset Management LLC's portfolio, making the stock its 11th largest position. HITE Hedge Asset Management LLC owned approximately 0.89% of Portland General Electric worth $43,352,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in POR. True Wealth Design LLC bought a new position in Portland General Electric during the 4th quarter worth about $27,000. Wayfinding Financial LLC purchased a new stake in shares of Portland General Electric during the first quarter valued at about $27,000. Private Trust Co. NA lifted 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 valued at $28,000 after buying an additional 244 shares during the last quarter. Global X Japan Co. Ltd. lifted its position 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 valued at $29,000 after buying an additional 345 shares during the last quarter. Finally, Costello Asset Management INC purchased a new stake in shares of Portland General Electric during the first quarter valued at about $46,000.

Insider Buying and Selling

In other news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the firm'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 sale, the chief financial officer owned 27,089 shares of the company's stock, valued at $1,120,130.15. This trade represents a 8.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael A. Lewis sold 1,937 shares of Portland General Electric stock in a transaction on 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 directly owned 13,509 shares in the company, valued at $541,710.90. This represents a 12.54% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on POR shares. Wall Street Zen raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and increased their price objective for the company from $47.00 to $50.00 in a research report on Monday, May 5th. Wells Fargo & Company decreased their price objective on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Barclays decreased their price objective on shares of Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 22nd. Finally, KeyCorp lowered shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price objective for the company. in a research report on Wednesday, May 14th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $45.40.

Portland General Electric Stock Performance

POR traded up $0.8510 during trading on Friday, reaching $43.0510. 1,294,843 shares of the company's stock were exchanged, compared to its average volume of 1,200,511. Portland General Electric Company has a 1 year low of $39.54 and a 1 year high of $49.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84. The stock has a market capitalization of $4.72 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 3.86 and a beta of 0.55. The company's fifty day simple moving average is $41.22 and its 200-day simple moving average is $42.24.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. The business had revenue of $807.00 million for the quarter, compared to analysts' expectations of $797.97 million. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The business's revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $0.69 EPS. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. As a group, research analysts predict 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 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. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.9%. Portland General Electric's dividend payout ratio (DPR) is presently 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.