Menard Financial Group LLC Increases Position in Portland General Electric Company (NYSE:POR)

Menard Financial Group LLC grew its holdings in Portland General Electric Company (NYSE:POR) by 4.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,905 shares of the utilities provider’s stock after buying an additional 257 shares during the period. Menard Financial Group LLC’s holdings in Portland General Electric were worth $251,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Private Trust Co. NA raised its holdings in shares of Portland General Electric by 62.6% in the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider’s stock valued at $28,000 after buying an additional 244 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of Portland General Electric by 3.2% during the fourth quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider’s stock worth $379,000 after acquiring an additional 269 shares during the period. Private Advisor Group LLC increased its stake in shares of Portland General Electric by 1.6% during the first quarter. Private Advisor Group LLC now owns 17,986 shares of the utilities provider’s stock worth $802,000 after acquiring an additional 279 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Portland General Electric by 4.2% during the fourth quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider’s stock worth $318,000 after acquiring an additional 291 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in shares of Portland General Electric by 25.3% during the first quarter. Hexagon Capital Partners LLC now owns 1,443 shares of the utilities provider’s stock worth $64,000 after acquiring an additional 291 shares during the period.

Analyst Ratings Changes

A number of brokerages have recently issued reports on POR. JPMorgan Chase & Co. dropped their price target on shares of Portland General Electric from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, May 19th. Evercore ISI dropped their price target on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. BMO Capital Markets began coverage on shares of Portland General Electric in a research note on Tuesday, May 13th. They set a “market perform” rating and a $46.00 price target on the stock. Barclays dropped their price target on shares of Portland General Electric from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 22nd. Finally, Wall Street Zen upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Portland General Electric presently has a consensus rating of “Hold” and an average price target of $45.40.

Insider Activity at Portland General Electric

In other news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $40.10, for a total value of $77,673.70. Following the sale, the director directly owned 13,509 shares in the company, valued at $541,710.90. This represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by corporate insiders.

Portland General Electric Trading Up 0.1%

Shares of POR opened at $41.33 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28. The firm’s 50-day moving average is $41.03 and its two-hundred day moving average is $42.14. Portland General Electric Company has a twelve month low of $39.54 and a twelve month high of $49.85. The firm has a market capitalization of $4.53 billion, a P/E ratio of 15.25, a PEG ratio of 3.84 and a beta of 0.56.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $807.00 million for the quarter, compared to analyst estimates of $797.97 million. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 earnings per share. On average, research analysts predict that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be given a $0.525 dividend. The ex-dividend date is Thursday, September 25th. This represents a $2.10 annualized dividend and a dividend yield of 5.08%. Portland General Electric’s dividend payout ratio is presently 77.49%.

About Portland General Electric

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.