Natixis Advisors L.P. Has $8.21 Million Stock Position in Portland General Electric (NYSE:POR)

Natixis Advisors L.P. grew its holdings in Portland General Electric (NYSE:POR) by 220.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 189,371 shares of the utilities provider’s stock after acquiring an additional 130,343 shares during the quarter. Natixis Advisors L.P.’s holdings in Portland General Electric were worth $8,207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in shares of Portland General Electric by 69.3% in the third quarter. Victory Capital Management Inc. now owns 1,040,841 shares of the utilities provider’s stock valued at $42,133,000 after buying an additional 425,923 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Portland General Electric by 103.5% in the 4th quarter. Truist Financial Corp now owns 507,731 shares of the utilities provider’s stock valued at $22,005,000 after purchasing an additional 258,275 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Portland General Electric by 384.1% in the 4th quarter. New York State Common Retirement Fund now owns 321,763 shares of the utilities provider’s stock valued at $13,945,000 after purchasing an additional 255,292 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in Portland General Electric by 12.8% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,944,864 shares of the utilities provider’s stock worth $78,728,000 after purchasing an additional 220,674 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Portland General Electric during the third quarter worth approximately $8,339,000.

Insider Buying and Selling

In related news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the transaction, the chief operating officer now owns 31,950 shares in the company, valued at $1,297,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Maria Angelica Espinosa sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total value of $88,600.00. Following the sale, the senior vice president now directly owns 16,763 shares of the company’s stock, valued at $742,600.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 directly owns 31,950 shares in the company, valued at $1,297,170. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,940 shares of company stock worth $248,313. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on POR. Mizuho reiterated a “neutral” rating and set a $42.00 target price (down from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Barclays reduced their price objective 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. Bank of America cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and cut their target price for the stock from $55.00 to $43.00 in a research note on Monday, February 5th. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $47.00 to $45.00 in a research report on Monday, January 29th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Portland General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $43.57.

Portland General Electric Stock Performance

NYSE POR opened at $44.06 on Thursday. The firm has a 50-day moving average price of $41.83 and a two-hundred day moving average price of $41.65. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $51.39. The company has a market capitalization of $4.54 billion, a P/E ratio of 16.88 and a beta of 0.56. The company has a quick ratio of 1.09, a current ratio of 1.22 and a debt-to-equity ratio of 1.34.

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

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.54%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s dividend payout ratio (DPR) is presently 72.80%.

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.