Hsbc Holdings PLC Purchases 37,663 Shares of Portland General Electric Company $POR

Key Points

• Hsbc Holdings PLC significantly increased its stake in Portland General Electric Company, acquiring an additional 37,663 shares, resulting in a total ownership of 46,981 shares worth approximately $2,087,000.
• Recent insider trading included Director Michael A. Lewis and CFO Joseph R. Trpik, Jr. selling shares, reducing their ownership by 12.54% and 8.77%, respectively.
• Portland General Electric announced a quarterly dividend of $0.525 per share, reflecting an annualized dividend of $2.10 and a yield of 4.9%.

Hsbc Holdings PLC increased its position in Portland General Electric Company (NYSE:POR - Free Report) by 404.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,981 shares of the utilities provider's stock after purchasing an additional 37,663 shares during the quarter. Hsbc Holdings PLC's holdings in Portland General Electric were worth $2,087,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of POR. True Wealth Design LLC bought a new position in Portland General Electric in the fourth quarter worth $27,000. Wayfinding Financial LLC bought a new position in Portland General Electric in the first quarter worth $27,000. Private Trust Co. NA lifted its position in 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 purchasing an additional 244 shares during the period. Global X Japan Co. Ltd. lifted its position in 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 purchasing an additional 345 shares during the period. Finally, Costello Asset Management INC bought a new position in Portland General Electric in the first quarter worth $46,000.

Insiders Place Their Bets

In other news, Director Michael A. Lewis sold 1,937 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $40.10, for a total value of $77,673.70. Following the completion of the sale, the director directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $41.35, for a total value of $107,634.05. Following the completion of the sale, the chief financial officer owned 27,089 shares of the company's stock, valued at approximately $1,120,130.15. This trade represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

POR has been the subject of several research reports. Barclays reduced their target price on 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. KeyCorp cut Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price objective for the company. in a report on Wednesday, May 14th. JPMorgan Chase & Co. cut their price objective on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, May 19th. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $47.00 to $50.00 in a report on Monday, May 5th. Finally, Zacks Research raised Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.40.

Portland General Electric Stock Up 1.7%

Shares of NYSE POR opened at $43.05 on Thursday. The stock has a market cap of $4.72 billion, a PE ratio of 15.88, a PEG ratio of 3.87 and a beta of 0.55. The business has a fifty day moving average of $41.37 and a two-hundred day moving average of $42.27. Portland General Electric Company has a 52-week low of $39.54 and a 52-week high of $49.85. 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 (NYSE:POR - Get Free Report) last announced 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 period last year, the company posted $0.69 earnings per share. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. As a group, equities research analysts expect that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend yield of 4.9%. Portland General Electric's dividend payout ratio (DPR) is 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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