Axa S.A. Buys 8,200 Shares of Portland General Electric (NYSE:POR)

Axa S.A. raised its stake in Portland General Electric (NYSE:POR) by 85.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,753 shares of the utilities provider’s stock after acquiring an additional 8,200 shares during the quarter. Axa S.A.’s holdings in Portland General Electric were worth $768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cullen Capital Management LLC bought a new position in Portland General Electric during the fourth quarter valued at $1,089,000. Gabelli Funds LLC lifted its position in shares of Portland General Electric by 3.8% during the 1st quarter. Gabelli Funds LLC now owns 297,049 shares of the utilities provider’s stock valued at $12,476,000 after buying an additional 11,000 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Portland General Electric during the 4th quarter worth $1,181,000. Jane Street Group LLC increased its holdings in Portland General Electric by 274.5% in the 1st quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider’s stock worth $8,303,000 after acquiring an additional 144,900 shares during the last quarter. Finally, Edgestream Partners L.P. raised its stake in Portland General Electric by 299.1% in the 1st quarter. Edgestream Partners L.P. now owns 102,993 shares of the utilities provider’s stock valued at $4,326,000 after acquiring an additional 77,185 shares during the period.

Insider Buying and Selling at Portland General Electric

In other news, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the 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 of the company’s stock, valued at approximately $688,902.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the transaction, the chief operating officer now owns 30,142 shares in the company, 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 over the last ninety days. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on POR. Bank of America assumed coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price for the company. Jefferies Financial Group began coverage on shares of Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Finally, Barclays lowered 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 research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.78.

Portland General Electric Stock Performance

Portland General Electric stock opened at $47.76 on Wednesday. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $49.45. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00. The stock has a market cap of $4.92 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.33 and a beta of 0.59. The firm’s fifty day moving average price is $47.54 and its 200-day moving average price is $44.64.

Portland General Electric (NYSE:POR) last released its quarterly earnings results 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. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The business had revenue of $758.00 million for the quarter, compared to the consensus estimate of $716.43 million. During the same quarter last year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities research analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is currently 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.