Investors Research Corp Buys Shares of 19,700 Portland General Electric Company $POR

Key Points

• Investors Research Corp acquired 19,700 shares of Portland General Electric Company, valued at approximately $800,000, during the second quarter as reported in their recent 13F filing.
• CEO Maria M. Pope sold 18,896 shares at an average price of $42.50, significantly reducing her ownership by 8.87%, while CFO Joseph R. Trpik, Jr. sold 2,603 shares, decreasing his ownership by 8.77%.
• The company declared a quarterly dividend of $0.525 per share, with an annualized yield of 4.9%, to be paid on October 15th to shareholders of record on September 25th.

Investors Research Corp purchased a new position in shares of Portland General Electric Company (NYSE:POR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,700 shares of the utilities provider's stock, valued at approximately $800,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Portland General Electric by 4.7% in the first quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider's stock valued at $556,266,000 after acquiring an additional 559,201 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Portland General Electric by 22.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider's stock valued at $216,950,000 after purchasing an additional 904,692 shares during the period. ATLAS Infrastructure Partners UK Ltd. raised its holdings in shares of Portland General Electric by 164.5% in the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,400,635 shares of the utilities provider's stock valued at $196,268,000 after purchasing an additional 2,736,811 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Portland General Electric by 14.6% in the 1st 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. Finally, Zimmer Partners LP lifted its position in shares of Portland General Electric by 25.2% in the 4th quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider's stock worth $100,598,000 after purchasing an additional 463,685 shares during the period.

Insider Transactions at Portland General Electric

In other news, CEO Maria M. Pope sold 18,896 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were 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 in the company, valued at $8,250,737.50. This represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the 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 transaction, the chief financial officer directly owned 27,089 shares of the company's stock, valued at $1,120,130.15. The trade was a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,436 shares of company stock worth $988,388. Insiders own 0.40% of the company's stock.

Portland General Electric Price Performance

NYSE POR opened at $42.56 on Friday. The firm's fifty day simple moving average is $41.82 and its two-hundred day simple moving average is $42.23. 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 12-month low of $39.54 and a 12-month high of $49.85. The firm has a market capitalization of $4.66 billion, a P/E ratio of 15.70, a P/E/G ratio of 3.88 and a beta of 0.63.

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, beating the consensus estimate of $0.65 by $0.01. The firm had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.The business's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 EPS. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Analysts forecast that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, September 25th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, September 25th. Portland General Electric's dividend payout ratio (DPR) is currently 77.49%.

Analysts Set New Price Targets

Several brokerages recently issued reports on POR. Barclays cut 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 report on Tuesday, July 22nd. Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, JPMorgan Chase & Co. decreased their price objective on 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. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $45.40.

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.

Want to see what other hedge funds are holding POR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Portland General Electric Company (NYSE:POR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.