Portland General Electric (NYSE:POR) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in Portland General Electric (NYSE:POR) by 22.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,134 shares of the utilities provider’s stock after selling 38,856 shares during the period. Federated Hermes Inc.’s holdings in Portland General Electric were worth $5,813,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Allworth Financial LP raised its stake in shares of Portland General Electric by 44.0% in the third quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 261 shares in the last quarter. Strs Ohio increased its holdings in Portland General Electric by 3.3% in the fourth quarter. Strs Ohio now owns 9,500 shares of the utilities provider’s stock valued at $411,000 after buying an additional 300 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Portland General Electric by 7.7% in the third quarter. Public Employees Retirement System of Ohio now owns 4,566 shares of the utilities provider’s stock valued at $185,000 after buying an additional 325 shares during the last quarter. State of Michigan Retirement System increased its holdings in Portland General Electric by 1.7% in the third quarter. State of Michigan Retirement System now owns 24,200 shares of the utilities provider’s stock valued at $980,000 after buying an additional 400 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Portland General Electric by 1.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 28,353 shares of the utilities provider’s stock valued at $1,148,000 after buying an additional 400 shares during the last quarter.

Portland General Electric Stock Performance

NYSE POR opened at $43.25 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.26. Portland General Electric has a 52-week low of $38.01 and a 52-week high of $51.58. The business’s 50-day moving average price is $41.33 and its 200 day moving average price is $41.50. The firm has a market cap of $4.38 billion, a P/E ratio of 18.56 and a beta of 0.57.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, February 16th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.20). Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The company had revenue of $725.00 million for the quarter, compared to analysts’ expectations of $740.21 million. During the same period in the prior year, the business earned $0.70 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts expect that Portland General Electric will post 3.07 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 24th will be given a $0.50 dividend. The ex-dividend date is Friday, June 21st. This represents a $2.00 dividend on an annualized basis and a yield of 4.62%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s dividend payout ratio (DPR) is presently 81.55%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on POR shares. UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and dropped their target price for the company from $47.00 to $45.00 in a report on Monday, January 29th. StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Barclays dropped their price objective on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Mizuho reaffirmed a “neutral” rating and set a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. Finally, Bank of America lowered Portland General Electric from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $55.00 to $43.00 in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $45.13.

Insider Activity at Portland General Electric

In related news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the sale, the chief operating officer now owns 31,950 shares in the company, valued at $1,297,170. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.54% of the stock is owned by insiders.

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.