Wellington Management Group LLP Lowers Stock Holdings in Portland General Electric Company $POR

Key Points

• Wellington Management Group LLP has reduced its stake in Portland General Electric Company (NYSE:POR) by 2.7%, now owning 285,181 shares worth approximately $12.7 million.
• Portland General Electric recently announced a quarterly dividend of $0.525 to be paid on October 15th, reflecting an annualized yield of 4.9%.
• Several analysts have different ratings for the company, with two analysts rating it as a Buy, while the consensus rating is "Hold" with a target price of $45.40.

Wellington Management Group LLP cut its holdings in Portland General Electric Company (NYSE:POR - Free Report) by 2.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 285,181 shares of the utilities provider's stock after selling 8,041 shares during the quarter. Wellington Management Group LLP owned 0.26% of Portland General Electric worth $12,719,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in Portland General Electric in the first quarter worth $27,000. True Wealth Design LLC bought a new stake in shares of Portland General Electric during the fourth quarter worth $27,000. Private Trust Co. NA lifted its position in shares of Portland General Electric by 62.6% during the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after purchasing an additional 244 shares during the last quarter. Global X Japan Co. Ltd. lifted its position in shares of Portland General Electric by 113.1% during the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock worth $29,000 after purchasing an additional 345 shares during the last quarter. Finally, Costello Asset Management INC bought a new stake in shares of Portland General Electric during the first quarter worth $46,000.

Insider Buying and Selling

In related news, Director Michael A. Lewis sold 1,937 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $541,710.90. This trade represents a 12.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the chief financial officer 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.

Analyst Ratings Changes

POR has been the subject of several research analyst reports. KeyCorp downgraded Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price for the company. in a research report on Wednesday, May 14th. Barclays decreased 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. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $47.00 to $50.00 in a research report on Monday, May 5th. JPMorgan Chase & Co. cut their price target on 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. Finally, Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $45.40.

Portland General Electric Stock Up 0.3%

Shares of POR stock traded up $0.13 during trading hours on Monday, reaching $42.77. 819,744 shares of the company's stock were exchanged, compared to its average volume of 1,038,093. The stock's fifty day moving average price is $41.46 and its two-hundred day moving average price is $42.29. Portland General Electric Company has a 1 year low of $39.54 and a 1 year high of $49.85. 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 stock has a market cap of $4.69 billion, a PE ratio of 15.78, a PEG ratio of 3.91 and a beta of 0.63.

Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $807.00 million for the quarter, compared to analyst estimates of $797.97 million. During the same quarter last year, the company earned $0.69 EPS. The business's quarterly 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. Research analysts predict 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. This represents a $2.10 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Thursday, September 25th. Portland General Electric's dividend payout ratio (DPR) is currently 77.49%.

Portland General Electric Company 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.