American Century Companies Inc. Raises Holdings in Portland General Electric (NYSE:POR)

American Century Companies Inc. boosted its stake in shares of Portland General Electric (NYSE:POR) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,705 shares of the utilities provider’s stock after acquiring an additional 901 shares during the quarter. American Century Companies Inc. owned 0.12% of Portland General Electric worth $5,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Choreo LLC purchased a new stake in Portland General Electric during the 2nd quarter valued at about $965,000. Ashton Thomas Private Wealth LLC purchased a new stake in Portland General Electric during the 2nd quarter valued at about $33,000. Fox Hill Wealth Management boosted its holdings in Portland General Electric by 7.7% during the 2nd quarter. Fox Hill Wealth Management now owns 29,068 shares of the utilities provider’s stock valued at $1,257,000 after acquiring an additional 2,077 shares during the period. Quest Partners LLC purchased a new stake in Portland General Electric during the 2nd quarter valued at about $40,000. Finally, Private Advisor Group LLC boosted its holdings in Portland General Electric by 39.5% during the 2nd quarter. Private Advisor Group LLC now owns 17,230 shares of the utilities provider’s stock valued at $745,000 after acquiring an additional 4,879 shares during the period.

Portland General Electric Stock Down 1.4 %

Shares of NYSE:POR opened at $47.40 on Wednesday. Portland General Electric has a 52-week low of $38.01 and a 52-week high of $49.45. The firm has a market capitalization of $4.88 billion, a P/E ratio of 18.16, a P/E/G ratio of 1.38 and a beta of 0.59. The stock has a 50 day moving average price of $47.46 and a 200-day moving average price of $44.46. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data 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 company had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. During the same quarter last year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities research analysts anticipate that Portland General Electric will post 3.09 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 76.63%.

Insider Activity at Portland General Electric

In related news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s 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 completion of the transaction, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the sale, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP John Teeruk Kochavatr sold 1,100 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. Insiders sold a total of 5,486 shares of company stock valued at $262,153 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on POR. Jefferies Financial Group initiated coverage on Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 target price for the company. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Bank of America initiated coverage on Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target for the company. Barclays lowered 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 report on Wednesday, September 18th. Finally, StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.88.

Portland General Electric Profile

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.