Portland General Electric Company $POR Stake Cut by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Portland General Electric by 4.1%, now holding 344,382 shares valued at approximately $15.36 million.
• Portland General Electric recently reported $0.66 earnings per share, exceeding estimates, while revenues rose by 6.5% year-over-year to $807 million.
• The company announced a quarterly dividend of $0.525 per share with a dividend yield of 5.0%, scheduled for payment on October 15th.

Brandywine Global Investment Management LLC lowered its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 4.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 344,382 shares of the utilities provider's stock after selling 14,744 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.31% of Portland General Electric worth $15,359,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Portland General Electric by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider's stock worth $556,266,000 after purchasing an additional 559,201 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Portland General Electric by 19.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock worth $172,720,000 after acquiring an additional 635,987 shares during the period. Zimmer Partners LP boosted its holdings in 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 worth $100,598,000 after acquiring an additional 463,685 shares during the period. Invesco Ltd. boosted its holdings in Portland General Electric by 3.7% in the 1st quarter. Invesco Ltd. now owns 2,282,513 shares of the utilities provider's stock worth $101,800,000 after acquiring an additional 82,427 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Portland General Electric by 3.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,643,769 shares of the utilities provider's stock worth $71,701,000 after acquiring an additional 59,861 shares during the period.

Insider Buying and Selling at Portland General Electric

In related news, Director Michael A. Lewis sold 1,937 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $40.10, for a total transaction of $77,673.70. Following the transaction, the director directly owned 13,509 shares in the company, valued at $541,710.90. This trade represents a 12.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the firm's stock in a transaction on Friday, August 1st. The stock was 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. This trade represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

POR has been the subject of a number of analyst reports. Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Monday. Evercore ISI decreased their price target on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, April 28th. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and upped their price target for the stock from $47.00 to $50.00 in a report on Monday, May 5th. Barclays decreased their price target on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. decreased their price target on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, May 19th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $45.40.

Portland General Electric Stock Down 0.6%

Shares of Portland General Electric stock traded down $0.2350 on Wednesday, hitting $42.4150. 414,233 shares of the company's stock traded hands, compared to its average volume of 1,174,770. The stock has a market cap of $4.65 billion, a P/E ratio of 15.65, a PEG ratio of 3.83 and a beta of 0.55. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28. The firm's 50-day moving average is $41.13 and its 200 day moving average is $42.21. Portland General Electric Company has a 52-week low of $39.54 and a 52-week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating 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%.The business's revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 EPS. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Equities analysts anticipate that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend yield of 5.0%. The ex-dividend date is Thursday, September 25th. Portland General Electric's dividend payout ratio is 77.49%.

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.