Portland General Electric (NYSE:POR) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in shares of Portland General Electric (NYSE:POR) by 63.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,139 shares of the utilities provider’s stock after selling 49,662 shares during the period. Hsbc Holdings PLC’s holdings in Portland General Electric were worth $1,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of POR. Goldman Sachs Group Inc. lifted its position in 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 valued at $196,089,000 after buying an additional 1,017,503 shares in the last quarter. Norges Bank acquired a new position in Portland General Electric during the fourth quarter valued at approximately $39,112,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Portland General Electric during the second quarter valued at approximately $31,557,000. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Portland General Electric by 24.5% during 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 purchasing an additional 249,350 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $10,272,000.

Insider Buying and Selling at Portland General Electric

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 shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $90,528.00. Following the transaction, 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 sold a total of 5,486 shares of company stock worth $262,153 over the last 90 days. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Portland General Electric in a research note on Friday, September 20th. They set a “hold” rating and a $48.00 price objective on the stock. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Bank of America initiated coverage on shares of 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. Finally, Barclays lowered shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $48.00 to $49.00 in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Portland General Electric has an average rating of “Hold” and an average target price of $46.78.

Portland General Electric Stock Up 1.1 %

POR stock opened at $48.09 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $49.45. The firm has a fifty day moving average price of $47.49 and a two-hundred day moving average price of $44.51. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.36 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 for the quarter, beating 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 firm had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts predict that Portland General Electric will post 3.08 EPS for the current year.

Portland General Electric Dividend Announcement

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

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.