Huber Capital Management LLC Has $1.34 Million Stock Holdings in Portland General Electric (NYSE:POR)

Huber Capital Management LLC trimmed its position in Portland General Electric (NYSE:POR) by 3.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 31,061 shares of the utilities provider’s stock after selling 1,109 shares during the period. Huber Capital Management LLC’s holdings in Portland General Electric were worth $1,343,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in POR. Vanguard Group Inc. raised its holdings in Portland General Electric by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock worth $483,069,000 after purchasing an additional 212,981 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Portland General Electric by 29.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock worth $196,089,000 after buying an additional 1,017,503 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Portland General Electric by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after buying an additional 86,718 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in Portland General Electric by 24.5% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,265,745 shares of the utilities provider’s stock valued at $54,857,000 after acquiring an additional 249,350 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Portland General Electric by 6.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock worth $46,561,000 after acquiring an additional 69,392 shares during the period.

Portland General Electric Stock Down 0.4 %

Shares of POR stock opened at $47.70 on Friday. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $49.45. 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 firm has a fifty day moving average of $47.37 and a 200-day moving average of $44.32. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.38 and a beta of 0.59.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. As a group, equities research analysts predict that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio (DPR) is currently 76.63%.

Insider Transactions at Portland General Electric

In other news, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the sale, the chief operating officer now owns 30,142 shares of the company’s stock, valued at $1,446,816. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the sale, the chief operating officer now owns 30,142 shares in the company, valued at $1,446,816. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $50,875.00. Following the completion of the transaction, the vice president now owns 22,606 shares of the company’s stock, valued at $1,045,527.50. The disclosure for this sale can be found here. Insiders sold 5,486 shares of company stock valued at $262,153 in the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on POR. StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. 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 shares of Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target on the stock. Barclays cut shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $48.00 to $49.00 in a report on Wednesday. Finally, Jefferies Financial Group initiated coverage on shares of Portland General Electric in a report on Friday. They issued a “hold” rating and a $48.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.88.

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.