Martingale Asset Management L P Purchases 10,136 Shares of Portland General Electric Company $POR

Key Points

• Martingale Asset Management L P increased its stake in Portland General Electric Company by 15.5%, owning approximately 0.07% of the company worth $3,367,000 as of the latest filing.
• The company reported $0.66 earnings per share for the last quarter, exceeding analysts’ expectations, and anticipates posting around 3.21 EPS for the current year.
• Portland General Electric declared a quarterly dividend of $0.525, which equates to an annualized yield of 5.0% and a payout ratio of 77.49%.

Martingale Asset Management L P boosted its holdings in Portland General Electric Company (NYSE:POR - Free Report) by 15.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,489 shares of the utilities provider's stock after buying an additional 10,136 shares during the quarter. Martingale Asset Management L P owned approximately 0.07% of Portland General Electric worth $3,367,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. KBC Group NV raised its holdings in Portland General Electric by 29.3% in the 1st quarter. KBC Group NV now owns 4,717 shares of the utilities provider's stock valued at $210,000 after buying an additional 1,068 shares during the last quarter. New York State Teachers Retirement System raised its holdings in Portland General Electric by 17.5% in the 1st quarter. New York State Teachers Retirement System now owns 39,793 shares of the utilities provider's stock valued at $1,775,000 after buying an additional 5,927 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Portland General Electric by 21.9% in the first quarter. M&T Bank Corp now owns 19,691 shares of the utilities provider's stock worth $878,000 after acquiring an additional 3,538 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Portland General Electric by 6.5% in the first quarter. State of Alaska Department of Revenue now owns 12,806 shares of the utilities provider's stock worth $571,000 after acquiring an additional 780 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 559,201 shares during the period.

Portland General Electric Stock Up 2.0%

POR stock traded up $0.8510 during midday trading on Friday, reaching $43.0510. 1,294,843 shares of the company's stock traded hands, compared to its average volume of 1,151,827. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 3.94 and a beta of 0.55. The firm's fifty day moving average price is $41.22 and its 200-day moving average price is $42.25. 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 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 posted its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The company had revenue of $807.00 million for the quarter, compared to analyst estimates of $797.97 million. During the same quarter in the prior year, the business posted $0.69 EPS. The firm's revenue was up 6.5% compared to the same quarter last year. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. As a group, sell-side 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. Investors of record on Thursday, September 25th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Thursday, September 25th. Portland General Electric's dividend payout ratio is currently 77.49%.

Insider Transactions at Portland General Electric

In related news, Director Michael A. Lewis sold 1,937 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $40.10, for a total value of $77,673.70. Following the sale, the director owned 13,509 shares in the company, valued at $541,710.90. This represents a 12.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $41.35, for a total transaction of $107,634.05. Following the completion of the sale, the chief financial officer owned 27,089 shares in the company, 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.

Wall Street Analysts Forecast Growth

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

About Portland General Electric

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.