Wesbanco Bank Inc. Buys New Position in Portland General Electric Company $POR

Key Points

• Wesbanco Bank Inc. has acquired a new position in Portland General Electric Company, purchasing 16,500 shares valued at approximately $670,000.
• Research analysts have varied ratings for Portland General Electric, with a consensus rating of "Hold" and a target price of $45.40.
• The company recently announced a quarterly dividend of $0.525 per share, reflecting a 5.0% dividend yield.

Wesbanco Bank Inc. bought a new stake in Portland General Electric Company (NYSE:POR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,500 shares of the utilities provider's stock, valued at approximately $670,000.

Several other institutional investors have also recently added to or reduced their stakes in POR. ATLAS Infrastructure Partners UK Ltd. lifted its stake in Portland General Electric by 164.5% in the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,400,635 shares of the utilities provider's stock valued at $196,268,000 after buying an additional 2,736,811 shares during the period. AQR Capital Management LLC raised its position in shares of Portland General Electric by 644.2% during the first quarter. AQR Capital Management LLC now owns 2,014,491 shares of the utilities provider's stock worth $89,846,000 after purchasing an additional 1,743,791 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in Portland General Electric by 22.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider's stock valued at $216,950,000 after acquiring an additional 904,692 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Portland General Electric by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider's stock worth $556,266,000 after acquiring an additional 559,201 shares during the last quarter. Finally, Zimmer Partners LP boosted its holdings in Portland General Electric by 25.2% during the 4th quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider's stock worth $100,598,000 after acquiring an additional 463,685 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have issued reports 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. 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 note on Monday, May 19th. Finally, 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 note on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $45.40.

Portland General Electric Stock Down 0.4%

Shares of NYSE:POR opened at $42.38 on Tuesday. The stock has a fifty day simple moving average of $41.85 and a two-hundred day simple moving average of $42.20. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 3.89 and a beta of 0.63. Portland General Electric Company has a 12-month low of $39.54 and a 12-month 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.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%.The firm's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. On average, research analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be paid a $0.525 dividend. The ex-dividend date is Thursday, September 25th. This represents a $2.10 annualized dividend and a dividend yield of 5.0%. Portland General Electric's payout ratio is currently 77.49%.

Insider Transactions at Portland General Electric

In other news, CEO Maria M. Pope sold 18,896 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 194,135 shares in the company, valued at $8,250,737.50. The trade was a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael A. Lewis sold 1,937 shares of the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $40.10, for a total value of $77,673.70. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 23,436 shares of company stock worth $988,388 over the last quarter. 0.40% of the stock is currently owned by insiders.

About Portland General Electric

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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