ProShare Advisors LLC Sells 64,575 Shares of Portland General Electric (NYSE:POR)

ProShare Advisors LLC trimmed its position in shares of Portland General Electric (NYSE:POR) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 883,439 shares of the utilities provider’s stock after selling 64,575 shares during the period. ProShare Advisors LLC owned approximately 0.86% of Portland General Electric worth $38,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New York State Teachers Retirement System raised its stake in Portland General Electric by 1.3% during the first quarter. New York State Teachers Retirement System now owns 24,061 shares of the utilities provider’s stock valued at $1,011,000 after purchasing an additional 300 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Portland General Electric by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 126,987 shares of the utilities provider’s stock valued at $5,333,000 after buying an additional 335 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Portland General Electric by 20.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 413 shares during the last quarter. Blue Trust Inc. grew its position in Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 451 shares in the last quarter. Finally, State of Michigan Retirement System increased its stake in Portland General Electric by 2.1% during the first quarter. State of Michigan Retirement System now owns 24,800 shares of the utilities provider’s stock worth $1,042,000 after acquiring an additional 500 shares during the last quarter.

Insiders Place Their Bets

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the sale, the vice president now directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the sale, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The disclosure for this sale can be found here. Insiders have sold 5,486 shares of company stock worth $262,153 in the last ninety days. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Barclays lowered Portland General Electric from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $48.00 to $49.00 in a report on Wednesday, September 18th. Jefferies Financial Group started coverage on shares of Portland General Electric in a research note on Friday. They set a “hold” rating and a $48.00 price objective for the company. Bank of America assumed coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. Finally, StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.88.

Portland General Electric Stock Down 0.4 %

NYSE:POR opened at $47.70 on Monday. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 1.38 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. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a fifty day simple moving average of $47.37 and a 200-day simple moving average of $44.38.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Analysts anticipate that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be issued 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 4.19%. Portland General Electric’s payout ratio is 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.