Private Advisor Group LLC Acquires 4,879 Shares of Portland General Electric (NYSE:POR)

Private Advisor Group LLC grew its stake in shares of Portland General Electric (NYSE:POR) by 39.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,230 shares of the utilities provider’s stock after buying an additional 4,879 shares during the quarter. Private Advisor Group LLC’s holdings in Portland General Electric were worth $745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in Portland General Electric by 29.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock valued at $196,089,000 after buying an additional 1,017,503 shares during the last quarter. Norges Bank bought a new position in shares of Portland General Electric during the fourth quarter valued at about $39,112,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of Portland General Electric during the second quarter valued at about $31,557,000. Cbre Investment Management Listed Real Assets LLC purchased a new stake in shares of Portland General Electric during the fourth quarter worth about $17,460,000. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in Portland General Electric by 24.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,265,745 shares of the utilities provider’s stock valued at $54,857,000 after purchasing an additional 249,350 shares during the period.

Analyst Ratings Changes

POR has been the subject of several research analyst reports. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Bank of America started coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target for the company. StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Finally, Barclays upped their price objective on shares of Portland General Electric from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Portland General Electric has an average rating of “Hold” and a consensus price target of $45.43.

Insider Buying and Selling

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the sale, the vice president now owns 22,606 shares of the company’s stock, valued at $1,045,527.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the transaction, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. The disclosure for this sale can be found here. Insiders have sold 5,486 shares of company stock worth $262,153 in the last 90 days. Insiders own 0.54% of the company’s stock.

Portland General Electric Price Performance

Shares of POR stock opened at $48.83 on Wednesday. The business’s fifty day moving average is $47.14 and its 200 day moving average is $44.22. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 18.71 and a beta of 0.59. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $49.45.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The company had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. During the same period last year, the business earned $0.44 EPS. Portland General Electric’s quarterly revenue was up 17.0% compared to the same quarter last year. Research analysts expect that Portland General Electric will post 3.09 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.10%. Portland General Electric’s dividend payout ratio is currently 76.63%.

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.