Empower Advisory Group LLC Has $271,000 Stock Position in Portland General Electric Company (NYSE:POR)

Key Points

• Empower Advisory Group LLC sold 99.1% of its stake in Portland General Electric, reducing its holdings to 6,087 shares worth approximately $271,000.
• Portland General Electric reported a quarterly EPS of $0.66, surpassing analyst expectations, with a revenue of $807 million, marking a 6.5% increase from the previous year.
• The company declared a quarterly dividend of $0.525, yielding 4.9%, with the payout ratio at 77.49% and the ex-dividend date set for September 25th.

Empower Advisory Group LLC lessened its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 99.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,087 shares of the utilities provider's stock after selling 637,463 shares during the period. Empower Advisory Group LLC's holdings in Portland General Electric were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Costello Asset Management INC purchased a new stake in shares of Portland General Electric during the 1st quarter worth $46,000. Connable Office Inc. increased its stake in Portland General Electric by 17.0% in the first quarter. Connable Office Inc. now owns 6,246 shares of the utilities provider's stock valued at $279,000 after purchasing an additional 907 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Portland General Electric by 6.4% during the first quarter. PNC Financial Services Group Inc. now owns 9,026 shares of the utilities provider's stock worth $403,000 after acquiring an additional 543 shares during the period. LSV Asset Management increased its stake in shares of Portland General Electric by 58.3% during the first quarter. LSV Asset Management now owns 425,400 shares of the utilities provider's stock worth $18,973,000 after acquiring an additional 156,600 shares during the period. Finally, Castellan Group acquired a new position in Portland General Electric during the first quarter worth about $3,253,000.

Insider Transactions at Portland General Electric

In other news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $40.10, for a total value of $77,673.70. Following the completion of the sale, the director owned 13,509 shares of the company's stock, valued at approximately $541,710.90. This represents a 12.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the firm'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 sale, the chief financial officer directly owned 27,089 shares of the company's stock, valued at $1,120,130.15. This represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on POR shares. Wall Street Zen raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Barclays dropped their price objective on shares of Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 22nd. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and raised their price target for the company from $47.00 to $50.00 in a report on Monday, May 5th. KeyCorp downgraded shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target on the stock. in a research report on Wednesday, May 14th. Finally, BMO Capital Markets started coverage on shares of Portland General Electric in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price objective on the stock. One equities research 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, the stock presently has an average rating of "Hold" and an average price target of $45.40.

Portland General Electric Price Performance

Shares of POR remained flat at $42.19 during trading hours on Tuesday. 206,627 shares of the stock traded hands, compared to its average volume of 1,179,798. The company's 50 day moving average price is $40.98 and its two-hundred day moving average price is $42.18. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $49.85. The stock has a market capitalization of $4.62 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 3.85 and a beta of 0.55.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $807.00 million for the quarter, compared to the consensus estimate of $797.97 million. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The firm's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. Equities analysts predict that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.0%. 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.