Mercer Global Advisors Inc. ADV Has $2.01 Million Stock Position in Portland General Electric (NYSE:POR)

Mercer Global Advisors Inc. ADV lessened its stake in Portland General Electric (NYSE:POR) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,448 shares of the utilities provider’s stock after selling 953 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Portland General Electric were worth $2,008,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in POR. Johnson Financial Group Inc. acquired a new stake in Portland General Electric in the fourth quarter valued at $25,000. Massmutual Trust Co. FSB ADV lifted its stake in Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 514 shares during the last quarter. LRI Investments LLC bought a new position in Portland General Electric during the first quarter worth about $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Portland General Electric during the second quarter worth approximately $33,000. Finally, Mather Group LLC. bought a new stake in Portland General Electric in the first quarter valued at approximately $34,000.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on POR. Jefferies Financial Group began coverage on Portland General Electric in a report on Friday. They set a “hold” rating and a $48.00 target price on the stock. StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Bank of America began coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price for the company. Barclays lowered shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $48.00 to $49.00 in a research note on Wednesday, September 18th. Finally, KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.88.

Portland General Electric Stock Performance

Shares of NYSE:POR opened at $48.08 on Tuesday. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $49.45. The company’s 50 day moving average price is $47.43 and its two-hundred day moving average price is $44.42. The firm has a market cap of $4.95 billion, a PE ratio of 18.42, a PEG ratio of 1.38 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $758.00 million for the quarter, compared to analyst estimates 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 last year, the company earned $0.44 EPS. Equities research analysts predict that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.16%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is currently 76.63%.

Insider Activity

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

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.