Northern Trust Corp Sells 38,151 Shares of Portland General Electric Company $POR

Key Points

• Northern Trust Corp has reduced its stake in Portland General Electric Company by 2.6%, owning 1,450,182 shares valued at approximately $64.7 million as of the end of the first quarter.
• Other institutional investors such as Vanguard Group and Brown Advisory have increased their holdings in Portland General Electric significantly during recent quarters, with Vanguard owning over 12 million shares.
• Portland General Electric reported a $0.66 EPS for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.525 per share, representing a yield of 4.9%.

Northern Trust Corp lessened its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,450,182 shares of the utilities provider's stock after selling 38,151 shares during the period. Northern Trust Corp owned 1.32% of Portland General Electric worth $64,678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Versor Investments LP grew its holdings in Portland General Electric by 97.0% during the first quarter. Versor Investments LP now owns 54,983 shares of the utilities provider's stock valued at $2,452,000 after purchasing an additional 27,077 shares during the last quarter. Algert Global LLC grew its holdings in Portland General Electric by 9.7% during the first quarter. Algert Global LLC now owns 434,670 shares of the utilities provider's stock valued at $19,386,000 after purchasing an additional 38,410 shares during the last quarter. Ethos Financial Group LLC acquired a new position in Portland General Electric during the first quarter valued at approximately $1,092,000. Raymond James Financial Inc. grew its holdings in Portland General Electric by 4.9% during the first quarter. Raymond James Financial Inc. now owns 172,630 shares of the utilities provider's stock valued at $7,699,000 after purchasing an additional 7,998 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Portland General Electric during the first quarter valued at approximately $566,000.

Portland General Electric Stock Performance

Shares of NYSE:POR traded up $0.13 during trading on Friday, hitting $42.77. 819,744 shares of the stock were exchanged, compared to its average volume of 1,038,093. Portland General Electric Company has a 1-year low of $39.54 and a 1-year high of $49.85. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 3.91 and a beta of 0.63. The company's fifty day simple moving average is $41.46 and its 200-day simple moving average is $42.29. 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 quarterly earnings results 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 firm had revenue of $807.00 million during 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 company's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Sell-side analysts expect that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business 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 4.9%. Portland General Electric's dividend payout ratio is presently 77.49%.

Insider Buying and Selling

In other news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction that occurred 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 transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $41.35, for a total transaction of $107,634.05. Following the completion of the sale, the chief financial officer directly owned 27,089 shares in the company, valued at approximately $1,120,130.15. The trade was a 8.77% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on POR shares. Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. KeyCorp lowered Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target for the company. in a report on Wednesday, May 14th. Barclays cut their price target on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a report on Tuesday, July 22nd. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and upped their price target for the stock from $47.00 to $50.00 in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. cut their price target 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. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently 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.