Oliver Luxxe Assets LLC Sells 94,244 Shares of Portland General Electric Company $POR

Key Points

• Oliver Luxxe Assets LLC sold 94,244 shares of Portland General Electric Company, reducing its stake by 87.6% to 13,371 shares, valued at approximately $543,000.
• CEO Maria M. Pope sold 18,896 shares for $803,080, while insiders collectively sold 23,436 shares in the last ninety days, indicating a decrease in ownership among executives.
• Portland General Electric recently declared a quarterly dividend of $0.525 per share, resulting in an annualized dividend yield of 4.9%.

Oliver Luxxe Assets LLC lessened its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 87.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,371 shares of the utilities provider's stock after selling 94,244 shares during the quarter. Oliver Luxxe Assets LLC's holdings in Portland General Electric were worth $543,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of POR. Wayfinding Financial LLC bought a new stake in shares of Portland General Electric during the first quarter worth $27,000. Private Trust Co. NA grew its holdings in Portland General Electric by 62.6% during the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after acquiring an additional 244 shares during the last quarter. Global X Japan Co. Ltd. grew its holdings in 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 worth $29,000 after acquiring an additional 345 shares during the last quarter. S.A. Mason LLC acquired a new stake in Portland General Electric in the 2nd quarter valued at about $29,000. Finally, Costello Asset Management INC bought a new position in shares of Portland General Electric in the first quarter worth about $46,000.

Insider Activity at Portland General Electric

In related news, CEO Maria M. Pope sold 18,896 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total transaction of $803,080.00. Following the completion of the transaction, the chief executive officer directly owned 194,135 shares of the company's stock, valued at approximately $8,250,737.50. This represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $40.10, for a total value of $77,673.70. Following the transaction, the director directly owned 13,509 shares of the company's stock, valued at $541,710.90. This trade represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,436 shares of company stock valued at $988,388. Insiders own 0.40% of the company's stock.

Portland General Electric Stock Down 0.4%

POR stock opened at $42.64 on Tuesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84. The stock has a market capitalization of $4.67 billion, a P/E ratio of 15.73, a P/E/G ratio of 3.91 and a beta of 0.63. The business has a 50-day moving average of $41.98 and a 200-day moving average of $42.13. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $807.00 million during the quarter, compared to analysts' expectations of $797.97 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.Portland General Electric's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. On average, sell-side analysts anticipate that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, September 25th will be given 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 dividend payout ratio is 77.49%.

Wall Street Analyst Weigh In

Several analysts have recently commented on POR shares. Barclays decreased their price target on shares of 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. Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.

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