Voya Investment Management LLC lowered its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 21.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,527 shares of the utilities provider's stock after selling 22,347 shares during the period. Voya Investment Management LLC owned approximately 0.07% of Portland General Electric worth $3,547,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in shares of Portland General Electric during the first quarter worth about $27,000. Private Trust Co. NA grew its stake in Portland General Electric by 62.6% during the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 244 shares in the last quarter. Global X Japan Co. Ltd. grew its stake in Portland General Electric by 113.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 345 shares in the last quarter. Costello Asset Management INC acquired a new stake in Portland General Electric during the 1st quarter valued at approximately $46,000. Finally, Ransom Advisory Ltd acquired a new stake in Portland General Electric during the 1st quarter valued at approximately $52,000.
Insiders Place Their Bets
In other news, 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 approximately $1,120,130.15. This represents a 8.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Maria M. Pope sold 18,896 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total value of $803,080.00. Following the completion of the sale, the chief executive officer owned 194,135 shares of the company's stock, valued at approximately $8,250,737.50. This trade represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,436 shares of company stock valued at $988,388 over the last three months. 0.40% of the stock is currently owned by insiders.
Portland General Electric Price Performance
POR stock opened at $42.77 on Friday. 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 Company has a one year low of $39.54 and a one year high of $49.85. The firm has a market capitalization of $4.69 billion, a PE ratio of 15.78, a P/E/G ratio of 3.89 and a beta of 0.63. The firm has a 50-day moving average of $41.96 and a two-hundred day moving average of $42.17.
Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $807.00 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. On average, analysts forecast that Portland General Electric Company will post 3.21 earnings per share for the current year.
Portland General Electric Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be issued a dividend of $0.525 per share. The ex-dividend date is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.9%. Portland General Electric's dividend payout ratio (DPR) is currently 77.49%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on POR shares. Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Barclays dropped their target price on shares of 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. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $45.40.
Read Our Latest Stock Analysis 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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