Portland General Electric Company (NYSE:POR) Position Reduced by Phocas Financial Corp.

Key Points

• Phocas Financial Corp. reduced its holdings in Portland General Electric Company by 5.4%, owning 181,611 shares after selling 10,409 shares in the first quarter.
• Portland General Electric reported a quarterly EPS of $0.66, exceeding analysts' estimates, with revenue up 6.5% year-over-year.
• The company announced a quarterly dividend of $0.525, providing an annual yield of 5.1%, with a payout ratio of 77.49%.

Phocas Financial Corp. decreased its position in Portland General Electric Company (NYSE:POR - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,611 shares of the utilities provider's stock after selling 10,409 shares during the period. Portland General Electric comprises 1.2% of Phocas Financial Corp.'s portfolio, making the stock its 20th largest holding. Phocas Financial Corp. owned 0.17% of Portland General Electric worth $8,100,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC purchased a new stake in Portland General Electric during the fourth quarter worth about $27,000. Wayfinding Financial LLC acquired a new position in Portland General Electric during the first quarter worth about $27,000. Private Trust Co. NA raised its position 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 acquiring an additional 244 shares during the last quarter. Global X Japan Co. Ltd. raised its position in 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 acquiring an additional 345 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Portland General Electric during the fourth quarter worth about $52,000.

Portland General Electric Trading Up 1.7%

Portland General Electric stock traded up $0.69 during trading on Monday, reaching $42.14. The company had a trading volume of 1,099,725 shares, compared to its average volume of 1,194,250. Portland General Electric Company has a 12-month low of $39.54 and a 12-month high of $49.85. The stock's 50 day moving average price is $41.00 and its two-hundred day moving average price is $42.15. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 3.79 and a beta of 0.55. 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 released its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $807.00 million during the quarter, compared to the consensus estimate of $797.97 million. During the same period in the previous year, the firm earned $0.69 earnings per share. Portland General Electric's revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts expect that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, September 25th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 5.0%. The ex-dividend date is Thursday, September 25th. Portland General Electric's payout ratio is currently 77.49%.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $41.35, for a total value of $107,634.05. Following the transaction, the chief financial officer owned 27,089 shares in the company, valued at $1,120,130.15. The trade was a 8.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael A. Lewis sold 1,937 shares of Portland General Electric stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $40.10, for a total value of $77,673.70. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on POR. Evercore ISI cut their target price on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. cut 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 report on Monday, May 19th. Wells Fargo & Company cut 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 report on Monday, April 28th. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $47.00 to $50.00 in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Portland General Electric currently has an average rating of "Hold" and a consensus target price of $45.40.

Portland General Electric 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.