Vanguard Group Inc. raised its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 4.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,472,333 shares of the utilities provider's stock after acquiring an additional 559,201 shares during the period. Vanguard Group Inc. owned approximately 11.39% of Portland General Electric worth $556,266,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. KBC Group NV lifted its stake in shares of Portland General Electric by 29.3% in the 1st quarter. KBC Group NV now owns 4,717 shares of the utilities provider's stock worth $210,000 after purchasing an additional 1,068 shares during the period. New York State Teachers Retirement System lifted its stake in shares of 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 worth $1,775,000 after purchasing an additional 5,927 shares during the period. M&T Bank Corp lifted its stake in shares of Portland General Electric by 21.9% in the 1st quarter. M&T Bank Corp now owns 19,691 shares of the utilities provider's stock worth $878,000 after purchasing 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 1st quarter. State of Alaska Department of Revenue now owns 12,806 shares of the utilities provider's stock worth $571,000 after purchasing an additional 780 shares during the period. Finally, Barclays PLC lifted its stake in shares of Portland General Electric by 50.9% in the 4th quarter. Barclays PLC now owns 314,621 shares of the utilities provider's stock worth $13,724,000 after purchasing an additional 106,133 shares during the period.
Portland General Electric Price Performance
NYSE POR opened at $42.66 on Friday. 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 $4.67 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 3.93 and a beta of 0.55. The company's 50 day moving average is $41.06 and its two-hundred day moving average is $42.19. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28.
Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Friday, July 25th. The utilities provider reported $0.66 EPS 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 analysts' expectations of $797.97 million. During the same quarter last year, the business earned $0.69 EPS. The firm's revenue was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that Portland General Electric Company will post 3.21 earnings per share for the current year.
Portland General Electric Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, September 25th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, September 25th. Portland General Electric's dividend payout ratio (DPR) is 77.49%.
Insider Buying and Selling
In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $40.10, for a total transaction of $77,673.70. Following the sale, the director directly owned 13,509 shares of the company's stock, valued at approximately $541,710.90. This trade represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on POR. UBS Group upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $47.00 to $50.00 in a research note on Monday, May 5th. BMO Capital Markets began coverage on shares of 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. Evercore ISI lowered their price objective on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Wall Street Zen upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $45.40.
View Our Latest Report on Portland General Electric
About Portland General Electric
(
Free Report)
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.
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