Federated Hermes Inc. Has $5.86 Million Stock Position in Portland General Electric (NYSE:POR)

Federated Hermes Inc. raised its holdings in Portland General Electric (NYSE:POR) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 135,460 shares of the utilities provider’s stock after acquiring an additional 2,575 shares during the period. Federated Hermes Inc. owned about 0.13% of Portland General Electric worth $5,857,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of POR. Vanguard Group Inc. grew its holdings in shares of 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 valued at $483,069,000 after purchasing an additional 212,981 shares during the last quarter. Goldman Sachs Group Inc. grew 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 grew its stake in shares of Portland General Electric by 10.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,420,243 shares of the utilities provider’s stock worth $61,554,000 after buying an additional 140,151 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings 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 worth $54,857,000 after buying an additional 249,350 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Portland General Electric by 6.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock valued at $46,561,000 after acquiring an additional 69,392 shares during the last quarter.

Portland General Electric Price Performance

Shares of POR opened at $48.59 on Thursday. The business has a 50-day moving average of $47.25 and a 200-day moving average of $44.25. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 18.61 and a beta of 0.59. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $49.45.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm 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 company’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 EPS. As a group, equities research analysts anticipate 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. 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 annualized dividend and a yield of 4.12%. Portland General Electric’s payout ratio is 76.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Barclays cut Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $48.00 to $49.00 in a report on Wednesday. Bank of America started coverage on shares of Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective for the company. Finally, KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.57.

Insider Buying and Selling at Portland General Electric

In other news, COO Benjamin Felton sold 1,886 shares of Portland General Electric stock in a transaction dated Wednesday, July 24th. The stock was 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 directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, COO Benjamin Felton sold 1,886 shares of the firm’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 owns 30,142 shares of the company’s stock, valued at $1,446,816. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value 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 $688,902.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,486 shares of company stock valued at $262,153. 0.54% of the stock is currently owned by 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.