Federated Hermes Inc. Has $5.81 Million Stock Position in Portland General Electric (NYSE:POR)

Federated Hermes Inc. decreased its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 22.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,134 shares of the utilities provider's stock after selling 38,856 shares during the period. Federated Hermes Inc. owned about 0.13% of Portland General Electric worth $5,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Portland General Electric by 19.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,442 shares of the utilities provider's stock valued at $929,000 after purchasing an additional 3,551 shares in the last quarter. Strs Ohio raised its holdings in shares of Portland General Electric by 3.3% during the 4th quarter. Strs Ohio now owns 9,500 shares of the utilities provider's stock worth $411,000 after acquiring an additional 300 shares during the period. Phocas Financial Corp. raised its holdings in shares of Portland General Electric by 1.9% during the 4th quarter. Phocas Financial Corp. now owns 122,856 shares of the utilities provider's stock worth $5,325,000 after acquiring an additional 2,236 shares during the period. Outlook Wealth Advisors LLC purchased a new position in shares of Portland General Electric during the 4th quarter worth $370,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Portland General Electric during the 4th quarter worth $1,231,000.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays reduced their price target on Portland General Electric from $45.00 to $42.00 and set an "overweight" rating on the stock in a report on Wednesday, February 21st. StockNews.com lowered Portland General Electric from a "hold" rating to a "sell" rating in a report on Tuesday, February 27th. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $47.00 to $45.00 in a report on Monday, January 29th. Mizuho reissued a "neutral" rating and set a $42.00 price objective (down from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. Finally, Bank of America downgraded Portland General Electric from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $55.00 to $43.00 in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $45.13.

Portland General Electric Stock Down 1.0 %

POR stock traded down $0.45 during trading on Friday, hitting $42.80. 1,517,242 shares of the company's stock were exchanged, compared to its average volume of 973,154. The business has a 50-day moving average price of $41.33 and a two-hundred day moving average price of $41.50. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 18.75 and a beta of 0.57. Portland General Electric has a 52-week low of $38.01 and a 52-week high of $51.58. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.24. The firm had revenue of $929.00 million during the quarter, compared to analysts' expectations of $828.94 million. Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The firm's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 earnings per share. As a group, equities research analysts expect that Portland General Electric will post 3.07 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, May 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $2.00 dividend on an annualized basis and a yield of 4.67%. This is a boost from Portland General Electric's previous quarterly dividend of $0.48. Portland General Electric's payout ratio is currently 81.55%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the sale, the chief operating officer now owns 31,950 shares in the company, valued at $1,297,170. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.54% of the stock is owned by company insiders.

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.