Royal Bank of Canada Buys 108,585 Shares of Portland General Electric Company $POR

Key Points

• Royal Bank of Canada nearly doubled its Portland General Electric stake in the first quarter, adding 108,585 shares to own 219,718 shares valued at approximately $11.6 million. Several other institutional investors also increased or initiated positions.
• Analysts remain cautious, with Portland General Electric carrying a consensus “Hold” rating and an average price target of $50.70. Recent targets range from $51 to $54, while the company slightly missed quarterly earnings and revenue expectations.
• Portland General Electric declared a quarterly dividend of $0.5513 per share, equivalent to an annualized $2.21 payout and a 4.5% yield. The dividend is payable October 15 to shareholders of record as of September 25.

Royal Bank of Canada raised its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 97.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 219,718 shares of the utilities provider's stock after acquiring an additional 108,585 shares during the quarter. Royal Bank of Canada owned approximately 0.19% of Portland General Electric worth $11,593,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC grew its stake in shares of Portland General Electric by 18.8% in the 1st quarter. Sterling Capital Management LLC now owns 127,496 shares of the utilities provider's stock worth $6,728,000 after buying an additional 20,147 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Portland General Electric by 683.5% in the 4th quarter. GSA Capital Partners LLP now owns 43,282 shares of the utilities provider's stock worth $2,077,000 after buying an additional 37,758 shares in the last quarter. Jennison Associates LLC purchased a new position in Portland General Electric in the 4th quarter worth about $897,000. LSV Asset Management raised its position in Portland General Electric by 34.1% in the 4th quarter. LSV Asset Management now owns 799,147 shares of the utilities provider's stock worth $38,351,000 after buying an additional 203,400 shares during the last quarter. Finally, Norges Bank bought a new position in Portland General Electric during the 4th quarter valued at about $56,497,000.

Analyst Ratings Changes

A number of brokerages have recently commented on POR. Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a research note on Tuesday, April 21st. BMO Capital Markets set a $52.00 target price on shares of Portland General Electric in a report on Tuesday. Weiss Ratings raised shares of Portland General Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised their price objective on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a "neutral" rating in a report on Monday, April 20th. Finally, Zacks Research raised shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Portland General Electric currently has a consensus rating of "Hold" and a consensus target price of $50.70.

Insider Activity at Portland General Electric

In related news, Director Robert N. Hoglund acquired 2,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $48.80 per share, for a total transaction of $97,600.00. Following the purchase, the director directly owned 2,519 shares of the company's stock, valued at $122,927.20. This trade represents a 385.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael A. Lewis sold 1,537 shares of the company's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $51.83, for a total value of $79,662.71. Following the sale, the director owned 15,045 shares of the company's stock, valued at $779,782.35. This trade represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.52% of the company's stock.

Portland General Electric Price Performance

POR opened at $49.12 on Friday. The business has a fifty day moving average of $51.10 and a 200 day moving average of $51.33. The stock has a market cap of $5.78 billion, a P/E ratio of 21.64, a PEG ratio of 2.11 and a beta of 0.52. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.26. Portland General Electric Company has a 52-week low of $41.64 and a 52-week high of $54.62.

Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Friday, July 31st. The utilities provider reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.65 by ($0.01). The business had revenue of $814.00 million during the quarter, compared to analysts' expectations of $839.75 million. Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%.The business's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. Portland General Electric has set its FY 2026 guidance at 3.330-3.530 EPS. As a group, sell-side analysts anticipate that Portland General Electric Company will post 3.4 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be issued a dividend of $0.5513 per share. This represents a $2.21 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, September 25th. Portland General Electric's dividend payout ratio (DPR) is presently 96.92%.

About Portland General Electric

Portland General Electric NYSE: POR is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon's largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.

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