Portland General Electric Company (NYSE:POR) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its holdings in Portland General Electric Company by 58.0% during Q1, owning 7,083 shares valued at $316,000 at the end of the reporting period.
• Recent analysts' reports show a mix of ratings on Portland General Electric, with one sell, eight hold, and two buy ratings, along with a consensus target price of $45.40.
• The company declared a quarterly dividend of $0.525, reflecting an annualized yield of 5.0%, scheduled for payment on October 15th.

Mackenzie Financial Corp lessened its position in Portland General Electric Company (NYSE:POR - Free Report) by 58.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,083 shares of the utilities provider's stock after selling 9,773 shares during the period. Mackenzie Financial Corp's holdings in Portland General Electric were worth $316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC bought a new stake in shares of Portland General Electric in the 4th quarter worth $27,000. Wayfinding Financial LLC bought a new stake in shares of Portland General Electric in the 1st quarter worth $27,000. Private Trust Co. NA raised its stake in shares of Portland General Electric by 62.6% in the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after buying an additional 244 shares in the last quarter. Global X Japan Co. Ltd. raised 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 worth $29,000 after purchasing an additional 345 shares during the period. Finally, Quarry LP raised its position in shares of Portland General Electric by 110.4% during the fourth quarter. Quarry LP now owns 1,471 shares of the utilities provider's stock worth $64,000 after purchasing an additional 772 shares during the period.

Portland General Electric Stock Up 0.4%

Shares of NYSE POR traded up $0.18 during midday trading on Wednesday, hitting $42.83. The stock had a trading volume of 246,808 shares, compared to its average volume of 1,179,072. The company has a market cap of $4.69 billion, a P/E ratio of 15.80, a PEG ratio of 3.86 and a beta of 0.55. The business's 50 day moving average is $40.99 and its 200-day moving average is $42.18. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $49.85. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR - Get Free Report) last released 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 business 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 earned $0.69 earnings per share. The company's quarterly revenue was up 6.5% on a year-over-year basis. As a group, analysts predict that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

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 $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 4.9%. Portland General Electric's dividend payout ratio is 77.49%.

Insiders Place Their Bets

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $41.35, for a total transaction of $107,634.05. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael A. Lewis sold 1,937 shares of Portland General Electric stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $40.10, for a total transaction of $77,673.70. Following the completion of the transaction, the director directly owned 13,509 shares in the company, valued at approximately $541,710.90. The trade was a 12.54% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on POR shares. Evercore ISI cut their target price on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. KeyCorp downgraded Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target on the stock. in a report on Wednesday, May 14th. JPMorgan Chase & Co. reduced 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 report on Monday, May 19th. BMO Capital Markets assumed coverage on shares of Portland General Electric in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target for the company. Finally, Barclays lowered their target price on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 22nd. One equities research 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.