Dana Investment Advisors Inc. Acquires 1,883 Shares of Portland General Electric (NYSE:POR)

Dana Investment Advisors Inc. lifted its holdings in Portland General Electric (NYSE:POR) by 1.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 120,518 shares of the utilities provider’s stock after buying an additional 1,883 shares during the quarter. Dana Investment Advisors Inc. owned about 0.12% of Portland General Electric worth $5,211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in POR. Vanguard Group Inc. raised its position in Portland General Electric by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock worth $483,069,000 after purchasing an additional 212,981 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Portland General Electric by 29.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock worth $196,089,000 after purchasing an additional 1,017,503 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Portland General Electric by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock worth $65,234,000 after purchasing an additional 86,718 shares during the last quarter. HITE Hedge Asset Management LLC lifted its position in Portland General Electric by 7.1% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock valued at $64,216,000 after purchasing an additional 97,922 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake 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 last quarter.

Insider Transactions at Portland General Electric

In related news, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the sale, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Benjamin Felton sold 1,886 shares of the 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 directly owns 30,142 shares in the company, valued at approximately $1,446,816. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were 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 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 5,486 shares of company stock valued at $262,153 over the last three months. Company insiders own 0.54% of the company’s stock.

Portland General Electric Price Performance

NYSE POR opened at $47.76 on Wednesday. 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 price-to-earnings ratio of 18.30, a PEG ratio of 1.33 and a beta of 0.59. The business has a 50 day simple moving average of $47.54 and a 200 day simple moving average of $44.64. Portland General Electric has a 52-week low of $38.01 and a 52-week high of $49.45.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $758.00 million for 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 firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the business posted $0.44 earnings per share. Analysts anticipate that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. Portland General Electric’s dividend payout ratio (DPR) is 76.63%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on POR. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Barclays downgraded Portland General Electric from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $48.00 to $49.00 in a research note on Wednesday, September 18th. Bank of America started coverage on Portland General Electric in a research note on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective for the company. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Evercore ISI began coverage on Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.78.

Portland General Electric Company 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.