Victory Capital Management Inc. Reduces Stock Holdings in Portland General Electric (NYSE:POR)

Victory Capital Management Inc. trimmed its position in Portland General Electric (NYSE:POR) by 4.1% during the 4th quarter, HoldingsChannel reports. The firm owned 998,169 shares of the utilities provider’s stock after selling 42,672 shares during the period. Victory Capital Management Inc.’s holdings in Portland General Electric were worth $43,261,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp boosted its position in Portland General Electric by 181.8% in the fourth quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 409 shares during the last quarter. BKM Wealth Management LLC purchased a new position in Portland General Electric during the fourth quarter valued at $33,000. Allworth Financial LP grew its holdings in Portland General Electric by 44.0% during the third quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 261 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new stake in Portland General Electric in the fourth quarter worth about $38,000. Finally, GAMMA Investing LLC purchased a new stake in Portland General Electric in the fourth quarter worth about $38,000.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now directly owns 31,950 shares in the company, valued at approximately $1,297,170. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

Portland General Electric Stock Performance

POR opened at $43.77 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 16.77 and a beta of 0.56. The company has a fifty day moving average of $41.61 and a 200 day moving average of $41.58. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $51.58.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.12. The company had revenue of $929.00 million for the quarter, compared to the consensus estimate of $828.94 million. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. Portland General Electric’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. As a group, sell-side analysts forecast that Portland General Electric will post 3.08 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, May 24th will be issued a $0.50 dividend. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Friday, June 21st. Portland General Electric’s payout ratio is currently 72.80%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Barclays dropped their price target on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $47.00 to $45.00 in a research note on Monday, January 29th. Bank of America downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $55.00 to $43.00 in a report on Monday, February 5th. Finally, Mizuho reiterated a “neutral” rating and issued a $42.00 price target (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.13.

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.