WBI Investments LLC Acquires Shares of 22,276 Portland General Electric Company $POR

Key Points

• WBI Investments LLC has acquired 22,276 shares of Portland General Electric Company, representing an investment of approximately $994,000.
• Equities analysts have upgraded Portland General Electric from a "strong sell" rating to a "hold," while varying price targets have been set among other analysts, with a consensus target of $45.40.
• The company recently announced a quarterly dividend of $0.525 per share, which equates to an annual yield of 5.0% for shareholders of record by September 25th.

WBI Investments LLC acquired a new stake in Portland General Electric Company (NYSE:POR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 22,276 shares of the utilities provider's stock, valued at approximately $994,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its holdings in Portland General Electric by 15.8% in the first quarter. Intech Investment Management LLC now owns 54,870 shares of the utilities provider's stock valued at $2,447,000 after buying an additional 7,471 shares in the last quarter. Focus Partners Wealth boosted its holdings in Portland General Electric by 13.0% in the 1st quarter. Focus Partners Wealth now owns 8,812 shares of the utilities provider's stock valued at $393,000 after purchasing an additional 1,017 shares during the last quarter. Ransom Advisory Ltd acquired a new position in Portland General Electric in the 1st quarter valued at about $52,000. Jane Street Group LLC grew its holdings in shares of Portland General Electric by 2,620.6% during the 1st quarter. Jane Street Group LLC now owns 208,998 shares of the utilities provider's stock worth $9,321,000 after purchasing an additional 201,316 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Portland General Electric by 6.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,640 shares of the utilities provider's stock worth $10,420,000 after purchasing an additional 13,799 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on POR shares. Zacks Research upgraded shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. KeyCorp lowered shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price objective on the stock. in a report on Wednesday, May 14th. Barclays decreased their price objective on shares of Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $45.40.

Insider Buying and Selling at Portland General Electric

In related news, Director Michael A. Lewis sold 1,937 shares of the company's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $40.10, for a total transaction of $77,673.70. Following the transaction, the director owned 13,509 shares of the company's stock, valued at $541,710.90. This represents a 12.54% decrease in their ownership of the stock. The sale 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 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 transaction, the chief financial officer directly 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. Company insiders own 0.40% of the company's stock.

Portland General Electric Trading Down 0.4%

Shares of NYSE:POR opened at $42.20 on Thursday. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $49.85. The company's 50 day moving average is $41.77 and its two-hundred day moving average is $42.27. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28. The company has a market cap of $4.62 billion, a PE ratio of 15.57, a P/E/G ratio of 3.87 and a beta of 0.63.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings data 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 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 the consensus estimate of $797.97 million. During the same period in the prior year, the firm posted $0.69 EPS. The company's quarterly 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. Equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, September 25th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, September 25th. Portland General Electric's dividend payout ratio (DPR) 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.

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