DekaBank Deutsche Girozentrale Sells 59,423 Shares of Portland General Electric (NYSE:POR)

DekaBank Deutsche Girozentrale lessened its position in Portland General Electric (NYSE:POR) by 75.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,855 shares of the utilities provider’s stock after selling 59,423 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Portland General Electric were worth $800,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of POR. Goldman Sachs Group Inc. increased its position in shares of Portland General Electric by 29.0% in the 4th 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 stake in shares of Portland General Electric during the fourth quarter worth about $39,112,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of Portland General Electric during the 2nd quarter valued at about $31,557,000. Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of Portland General Electric in the 4th quarter valued at approximately $17,460,000. Finally, Hotchkis & Wiley Capital Management LLC grew its position in shares of Portland General Electric by 24.5% in the 4th 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.

Analysts Set New Price Targets

POR has been the topic of a number of research reports. Barclays lowered shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $48.00 to $49.00 in a research note on Wednesday. StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Finally, Bank of America started coverage on Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.57.

Insider Transactions at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction 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 directly owns 14,263 shares in the company, valued at approximately $688,902.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction dated Tuesday, September 10th. The shares were 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 in the company, valued at approximately $688,902.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the transaction, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,486 shares of company stock worth $262,153. 0.54% of the stock is owned by insiders.

Portland General Electric Price Performance

NYSE:POR opened at $47.88 on Friday. Portland General Electric has a 52-week low of $38.01 and a 52-week high of $49.45. The company has a market cap of $4.93 billion, a P/E ratio of 18.34 and a beta of 0.59. 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’s 50-day simple moving average is $47.32 and its 200 day simple moving average is $44.27.

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

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.18%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend 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.