Portland General Electric Company (NYSE:POR) Position Increased by OLD Republic International Corp

OLD Republic International Corp boosted its stake in Portland General Electric Company (NYSE:POR - Free Report) by 20.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 620,000 shares of the utilities provider's stock after purchasing an additional 105,000 shares during the quarter. OLD Republic International Corp owned about 0.57% of Portland General Electric worth $27,652,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC purchased a new stake in Portland General Electric during the fourth quarter worth approximately $27,000. Wayfinding Financial LLC purchased a new stake in Portland General Electric during the first quarter worth approximately $27,000. Private Trust Co. NA grew its stake in Portland General Electric by 62.6% during the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after buying an additional 244 shares during the period. Global X Japan Co. Ltd. boosted its stake in shares of Portland General Electric by 113.1% in the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 345 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 769 shares during the period.

Wall Street Analysts Forecast Growth

POR has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on shares of 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. Wells Fargo & Company decreased their target price on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. KeyCorp downgraded shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price for the company. in a research note on Wednesday, May 14th. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and increased their target price for the stock from $47.00 to $50.00 in a report on Monday, May 5th. Finally, Evercore ISI dropped their target price on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Portland General Electric has an average rating of "Hold" and a consensus target price of $45.60.

Insider Transactions at Portland General Electric

In related news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the transaction, the executive vice president owned 32,646 shares in the company, valued at $1,404,430.92. This represents a 5.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.40% of the stock is owned by corporate insiders.

Portland General Electric Stock Performance

Shares of Portland General Electric stock traded down $0.18 during trading on Tuesday, hitting $40.73. 1,326,054 shares of the stock were exchanged, compared to its average volume of 1,058,304. The stock's fifty day moving average is $41.48 and its 200 day moving average is $42.39. The stock has a market cap of $4.46 billion, a PE ratio of 14.34, a P/E/G ratio of 3.84 and a beta of 0.56. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.94 and a current ratio of 1.06. Portland General Electric Company has a 12 month low of $39.55 and a 12 month high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The company had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. Portland General Electric had a net margin of 8.84% and a return on equity of 8.24%. The business's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. As a group, sell-side analysts anticipate that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Tuesday, June 24th. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio is currently 73.94%.

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.