Brown Advisory Inc. Acquires 380,749 Shares of Portland General Electric Company (NYSE:POR)

Brown Advisory Inc. grew its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 54.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,085,699 shares of the utilities provider's stock after purchasing an additional 380,749 shares during the period. Brown Advisory Inc. owned about 0.99% of Portland General Electric worth $48,422,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Wayfinding Financial LLC bought a new stake in shares of Portland General Electric during the 1st quarter worth approximately $27,000. True Wealth Design LLC bought a new stake in shares of Portland General Electric during the 4th quarter worth approximately $27,000. Private Trust Co. NA lifted its stake in Portland General Electric by 62.6% in the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 244 shares during the last quarter. Global X Japan Co. Ltd. lifted its stake in Portland General Electric by 113.1% in the 1st 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 last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in Portland General Electric in the 4th quarter valued at approximately $52,000.

Portland General Electric Stock Up 1.0%

NYSE:POR traded up $0.40 during trading hours on Thursday, reaching $41.31. The company had a trading volume of 254,271 shares, compared to its average volume of 1,057,551. Portland General Electric Company has a twelve month low of $39.55 and a twelve month high of $49.85. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 3.79 and a beta of 0.56. The business's 50-day simple moving average is $41.46 and its two-hundred day simple moving average is $42.38. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Portland General Electric had a net margin of 8.84% and a return on equity of 8.24%. The business had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. During the same period last year, the business posted $1.21 earnings per share. The firm's quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts expect that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 annualized dividend and a yield of 5.08%. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's payout ratio is currently 73.94%.

Insider Buying and Selling

In related news, EVP Benjamin Felton sold 1,845 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the transaction, the executive vice president owned 32,646 shares of the company's stock, valued at approximately $1,404,430.92. The trade was a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.40% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on POR. Barclays dropped their price target on shares of Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Evercore ISI decreased their price objective 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. KeyCorp cut shares of 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. Wells Fargo & Company decreased their price objective 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. Finally, UBS Group upgraded shares of 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $45.60.

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.