Russell Investments Group Ltd. Sells 14,784 Shares of Portland General Electric Company $POR

Key Points

• Russell Investments Group Ltd. reduced its stake in Portland General Electric by 6.5%, selling 14,784 shares and holding 214,137 shares, valued at approximately $9.55 million.
• Portland General Electric's stock is currently down 1.2%, with a market cap of $4.59 billion and a P/E ratio of 15.47, having reported a quarterly EPS of $0.66.
• The company announced a quarterly dividend of $0.525 per share, yielding 5.0%, to be paid on October 15th, with a payout ratio of 77.49%.

Russell Investments Group Ltd. decreased its stake in Portland General Electric Company (NYSE:POR - Free Report) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,137 shares of the utilities provider's stock after selling 14,784 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.20% of Portland General Electric worth $9,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV increased its position in Portland General Electric by 29.3% in the first quarter. KBC Group NV now owns 4,717 shares of the utilities provider's stock worth $210,000 after buying an additional 1,068 shares in the last quarter. New York State Teachers Retirement System increased its position in Portland General Electric by 17.5% in the first quarter. New York State Teachers Retirement System now owns 39,793 shares of the utilities provider's stock worth $1,775,000 after buying an additional 5,927 shares in the last quarter. M&T Bank Corp increased its position in 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 buying an additional 3,538 shares in the last quarter. State of Alaska Department of Revenue increased its position in 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 buying an additional 780 shares in the last quarter. Finally, Barclays PLC increased its position in Portland General Electric by 50.9% in the fourth quarter. Barclays PLC now owns 314,621 shares of the utilities provider's stock worth $13,724,000 after buying an additional 106,133 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have commented on POR. Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research report on Monday. Barclays cut 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 report on Tuesday, July 22nd. Wells Fargo & Company cut their target price on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. BMO Capital Markets started coverage on Portland General Electric in a research report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 target price for the company. Finally, JPMorgan Chase & Co. cut their target price on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $45.40.

Insider Buying and Selling

In other news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the firm's 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 sale, the chief financial officer directly owned 27,089 shares of the company's stock, valued at $1,120,130.15. This trade represents a 8.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. Lewis sold 1,937 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $40.10, for a total value of $77,673.70. Following the completion of the sale, the director directly owned 13,509 shares of the company's stock, valued at $541,710.90. The trade was a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Portland General Electric Price Performance

Portland General Electric stock traded up $0.8510 during midday trading on Friday, reaching $43.0510. 1,294,843 shares of the stock traded hands, compared to its average volume of 1,179,016. The stock's fifty day moving average is $41.18 and its 200-day moving average is $42.23. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $49.85. The stock has a market cap of $4.72 billion, a P/E ratio of 15.89, a PEG ratio of 3.89 and a beta of 0.55. 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 announced its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.The company had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. During the same period in the prior year, the company earned $0.69 earnings per share. The firm's revenue was up 6.5% on a year-over-year basis. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. As a group, equities research analysts anticipate that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 yield of 4.9%. Portland General Electric's dividend payout ratio is presently 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.