Oliver Luxxe Assets LLC Makes New Investment in Portland General Electric (NYSE:POR)

Oliver Luxxe Assets LLC bought a new position in Portland General Electric (NYSE:POR) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 16,675 shares of the utilities provider’s stock, valued at approximately $700,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Johnson Financial Group Inc. bought a new stake in shares of Portland General Electric in the 4th quarter worth $25,000. Fifth Third Bancorp boosted its stake in shares of Portland General Electric by 181.8% in the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock worth $27,000 after buying an additional 409 shares during the last quarter. BKM Wealth Management LLC purchased a new position in shares of Portland General Electric in the 4th quarter worth $33,000. Mather Group LLC. purchased a new position in shares of Portland General Electric in the 1st quarter worth $34,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Portland General Electric in the 4th quarter worth $38,000.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total transaction of $88,600.00. Following the sale, the senior vice president now directly owns 16,763 shares of the company’s stock, valued at $742,600.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Brett Michael Sims sold 963 shares of Portland General Electric stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total value of $43,363.89. Following the sale, the vice president now directly owns 13,996 shares of the company’s stock, valued at $630,239.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Angelica Espinosa sold 2,000 shares of Portland General Electric stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total value of $88,600.00. Following the completion of the sale, the senior vice president now directly owns 16,763 shares in the company, valued at $742,600.90. The disclosure for this sale can be found here. Insiders have sold a total of 6,463 shares of company stock valued at $274,064 over the last ninety days. 0.54% of the stock is currently owned by company insiders.

Portland General Electric Price Performance

NYSE POR opened at $43.02 on Tuesday. The company has a market capitalization of $4.43 billion, a PE ratio of 16.48 and a beta of 0.58. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22. The business’s fifty day moving average is $43.59 and its 200 day moving average is $42.25. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $49.72.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.12. The company had revenue of $929.00 million for the quarter, compared to the consensus estimate of $828.94 million. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. Portland General Electric’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share. Sell-side analysts predict that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 4.65%. Portland General Electric’s dividend payout ratio (DPR) is currently 76.63%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Mizuho raised their price target on Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.00.

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.