Victory Capital Management Inc. Sells 16,486 Shares of Portland General Electric Company (NYSE:POR)

Victory Capital Management Inc. reduced its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,047,783 shares of the utilities provider's stock after selling 16,486 shares during the period. Victory Capital Management Inc. owned about 0.96% of Portland General Electric worth $46,731,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in Portland General Electric by 24.0% in the 1st quarter. Signaturefd LLC now owns 4,134 shares of the utilities provider's stock valued at $184,000 after purchasing an additional 800 shares during the last quarter. Securian Asset Management Inc. lifted its holdings in shares of Portland General Electric by 4.9% in the first quarter. Securian Asset Management Inc. now owns 8,304 shares of the utilities provider's stock valued at $370,000 after purchasing an additional 390 shares in the last quarter. CWM LLC raised its position in Portland General Electric by 7.9% during the first quarter. CWM LLC now owns 23,362 shares of the utilities provider's stock valued at $1,042,000 after buying an additional 1,707 shares during the period. Louisiana State Employees Retirement System grew its position in Portland General Electric by 4.4% during the first quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the utilities provider's stock valued at $1,365,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Portland General Electric by 1.1% in the 1st quarter. Arizona State Retirement System now owns 30,249 shares of the utilities provider's stock valued at $1,349,000 after buying an additional 337 shares during the period.

Portland General Electric Stock Performance

Shares of NYSE:POR traded up $0.31 during trading on Tuesday, reaching $41.02. 546,123 shares of the stock were exchanged, compared to its average volume of 1,070,829. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.28. The firm has a market cap of $4.49 billion, a PE ratio of 14.44, a PEG ratio of 3.72 and a beta of 0.56. The stock has a 50-day moving average price of $41.21 and a 200-day moving average price of $42.20. Portland General Electric Company has a 12 month low of $39.55 and a 12 month high of $49.85.

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

Portland General Electric Announces Dividend

The firm 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. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend is Thursday, September 25th. Portland General Electric's payout ratio is 73.94%.

Analyst Upgrades and Downgrades

Several brokerages have commented on POR. Evercore ISI lowered their price target on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. BMO Capital Markets began coverage on shares of Portland General Electric in a report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, May 19th. Wells Fargo & Company lowered their price target on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Finally, Barclays decreased their target price on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Portland General Electric 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.