Ameriprise Financial Inc. Raises Position in Portland General Electric Company $POR

Key Points

• Ameriprise Financial Inc. increased its stake in Portland General Electric Company by 14.2% during the first quarter, now holding 978,896 shares valued at approximately $43.67 million.
• Portland General Electric reported $0.66 earnings per share for the last quarter, beating estimates, and announced a quarterly dividend of $0.525 per share to be paid on October 15th.
• Various hedge funds, including Martingale Asset Management and Hsbc Holdings PLC, have made significant adjustments to their holdings in Portland General Electric during the last quarter, indicating increased investor interest.

Ameriprise Financial Inc. raised its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 14.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 978,896 shares of the utilities provider's stock after purchasing an additional 121,559 shares during the period. Ameriprise Financial Inc. owned 0.89% of Portland General Electric worth $43,671,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of POR. Fuller & Thaler Asset Management Inc. raised its position in Portland General Electric by 22.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider's stock valued at $216,950,000 after purchasing an additional 904,692 shares during the last quarter. Vanguard Group Inc. grew its stake in Portland General Electric by 4.7% in the first 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. Zimmer Partners LP raised its stake in Portland General Electric by 25.2% during the fourth quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider's stock valued at $100,598,000 after buying an additional 463,685 shares during the last quarter. Brown Advisory Inc. raised its stake in Portland General Electric by 54.0% during the first quarter. Brown Advisory Inc. now owns 1,085,699 shares of the utilities provider's stock valued at $48,422,000 after buying an additional 380,749 shares during the last quarter. Finally, Algert Global LLC raised its stake in Portland General Electric by 83.1% during the fourth quarter. Algert Global LLC now owns 396,260 shares of the utilities provider's stock valued at $17,285,000 after buying an additional 179,893 shares during the last quarter.

Portland General Electric Trading Down 1.2%

NYSE POR traded down $0.50 during trading hours on Tuesday, hitting $42.28. 379,860 shares of the company were exchanged, compared to its average volume of 1,170,920. The stock has a market cap of $4.63 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 3.91 and a beta of 0.63. The stock has a 50-day moving average price of $41.50 and a 200 day moving average price of $42.30. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $49.85. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28.

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 analysts' consensus estimates of $0.65 by $0.01. The company had revenue of $807.00 million during the quarter, compared to the consensus estimate of $797.97 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.Portland General Electric's revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.69 earnings per share. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Analysts forecast 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 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. 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 currently 77.49%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on POR. BMO Capital Markets assumed coverage on Portland General Electric in a report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 target price for the company. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $47.00 to $50.00 in a report on Monday, May 5th. Zacks Research raised Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. KeyCorp downgraded Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price on the stock. in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. lowered their target price on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Portland General Electric has a consensus rating of "Hold" and a consensus target price of $45.40.

Insider Buying and Selling

In related 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 transaction, the director owned 13,509 shares of the company's stock, valued at $541,710.90. This represents a 12.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 27,089 shares in the company, valued at approximately $1,120,130.15. This trade 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.

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.