Northern Trust Corp Trims Stake in 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 reduced its position in Portland General Electric Company (NYSE:POR - Free Report) by 2.6% in the 1st quarter, according to its most recent filing with the SEC. 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in POR. Vanguard Group Inc. lifted its holdings in shares of Portland General Electric by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider's stock valued at $556,266,000 after purchasing an additional 559,201 shares during the last quarter. Zimmer Partners LP lifted its holdings 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 valued at $100,598,000 after purchasing an additional 463,685 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of Portland General Electric by 54.0% in the 1st quarter. Brown Advisory Inc. now owns 1,085,699 shares of the utilities provider's stock valued at $48,422,000 after purchasing an additional 380,749 shares during the last quarter. Algert Global LLC lifted its holdings in shares of Portland General Electric by 83.1% in the 4th quarter. Algert Global LLC now owns 396,260 shares of the utilities provider's stock valued at $17,285,000 after purchasing an additional 179,893 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Portland General Electric by 58.3% in the 1st quarter. LSV Asset Management now owns 425,400 shares of the utilities provider's stock valued at $18,973,000 after purchasing an additional 156,600 shares during the last quarter.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of Portland General Electric stock in a transaction on 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 transaction, the chief financial officer owned 27,089 shares of the company's stock, valued at $1,120,130.15. The trade was a 8.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael A. Lewis sold 1,937 shares of the business's stock in a transaction dated 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 sale, the director owned 13,509 shares in the company, valued at $541,710.90. This represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

Portland General Electric Stock Performance

NYSE POR opened at $42.4770 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28. The business's 50 day moving average is $41.26 and its two-hundred day moving average is $42.26. Portland General Electric Company has a 12-month low of $39.54 and a 12-month high of $49.85. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 3.94 and a beta of 0.55.

Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $797.97 million. During the same quarter in the previous year, the firm posted $0.69 EPS. The firm's quarterly revenue was up 6.5% on a year-over-year basis. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Research analysts expect 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. Investors of record on Thursday, September 25th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.10 annualized dividend and a yield of 4.9%. Portland General Electric's payout ratio is currently 77.49%.

Analysts Set New Price Targets

Several analysts have recently weighed in on POR shares. BMO Capital Markets assumed coverage on Portland General Electric in a report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 target price for the company. 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 research report on Wednesday, May 14th. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $47.00 to $50.00 in a research report on Monday, May 5th. Barclays decreased their price objective 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. Finally, Evercore ISI dropped 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. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $45.40.

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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