John G Ullman & Associates Inc. Buys 52,901 Shares of Portland General Electric Company (NYSE:POR)

Key Points

• John G Ullman & Associates Inc. increased its holdings in Portland General Electric Company by 41.5%, owning a total of 180,511 shares valued at approximately $8,051,000 as of the latest SEC filing.
• The stock has received several rating adjustments from analysts, with JPMorgan Chase lowering its price target from $46.00 to $45.00, reflecting a broader trend of reduced price targets by multiple firms.
• Portland General Electric announced a quarterly dividend of $0.525 per share, translating to an annualized dividend yield of 5.07%, with the ex-dividend date set for September 25th.

John G Ullman & Associates Inc. grew its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 41.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,511 shares of the utilities provider's stock after purchasing an additional 52,901 shares during the quarter. Portland General Electric makes up 1.2% of John G Ullman & Associates Inc.'s portfolio, making the stock its 20th largest holding. John G Ullman & Associates Inc. owned about 0.16% of Portland General Electric worth $8,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in POR. Wayfinding Financial LLC bought a new position in Portland General Electric in the 1st quarter worth approximately $27,000. True Wealth Design LLC acquired a new stake in shares of Portland General Electric during the 4th quarter valued at $27,000. Private Trust Co. NA lifted its position in shares of Portland General Electric by 62.6% during the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock valued at $28,000 after acquiring 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 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 345 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Portland General Electric in the fourth quarter valued at $52,000.

Portland General Electric Trading Down 0.7%

Shares of POR stock traded down $0.30 on Monday, hitting $41.10. The stock had a trading volume of 427,782 shares, compared to its average volume of 1,177,165. The firm has a market cap of $4.50 billion, a P/E ratio of 15.18, a PEG ratio of 3.85 and a beta of 0.56. Portland General Electric Company has a twelve month low of $39.54 and a twelve month high of $49.85. The company has a fifty day moving average price of $41.10 and a two-hundred day moving average price of $42.15. 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 (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 EPS 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 analysts' expectations of $797.97 million. During the same period in the previous year, the firm posted $0.69 EPS. The company's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be issued a $0.525 dividend. 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 5.11%. Portland General Electric's payout ratio is 77.49%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Barclays cut their price target on shares of Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 22nd. Evercore ISI cut their price target on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. UBS Group upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and lifted their target price for the company from $47.00 to $50.00 in a research note on Monday, May 5th. Finally, Wall Street Zen raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $45.40.

Insider Activity

In other news, Director Michael A. Lewis sold 1,937 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $40.10, for a total value of $77,673.70. Following the sale, the director directly owned 13,509 shares of the company's stock, valued at approximately $541,710.90. This represents a 12.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.40% of the company's stock.

Portland General Electric 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.