Pacer Advisors Inc. Reduces Stake in Portland General Electric Company (NYSE:POR)

Pacer Advisors Inc. cut its holdings in shares of Portland General Electric Company (NYSE:POR) by 15.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,194 shares of the utilities provider’s stock after selling 3,027 shares during the quarter. Pacer Advisors Inc.’s holdings in Portland General Electric were worth $767,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in POR. American Century Companies Inc. increased its holdings in shares of Portland General Electric by 3.7% in the fourth quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider’s stock valued at $6,166,000 after purchasing an additional 5,084 shares during the last quarter. LPL Financial LLC boosted its position in shares of Portland General Electric by 33.7% during the 4th quarter. LPL Financial LLC now owns 48,700 shares of the utilities provider’s stock valued at $2,124,000 after acquiring an additional 12,265 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of Portland General Electric by 13.2% in the fourth quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 692 shares during the period. Norges Bank acquired a new stake in Portland General Electric during the fourth quarter worth about $62,004,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Portland General Electric in the 4th quarter valued at approximately $148,000.

Portland General Electric Stock Down 0.5%

POR stock opened at $41.11 on Friday. The firm’s 50-day moving average is $41.01 and its two-hundred day moving average is $42.14. 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 company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 3.84 and a beta of 0.56. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $49.85.

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

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.1%. Portland General Electric’s dividend payout ratio is currently 77.49%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on POR. JPMorgan Chase & Co. lowered their target price on shares of Portland General Electric from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, May 19th. Wall Street Zen upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Friday, April 25th. Wells Fargo & Company cut their price target on shares of Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. Barclays reduced 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 report on Tuesday, July 22nd. Finally, KeyCorp cut Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 price objective on the stock. in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from 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 related news, Director Michael A. Lewis sold 1,937 shares of the company’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $40.10, for a total transaction of $77,673.70. Following the completion of the transaction, the director directly owned 13,509 shares in the company, valued at $541,710.90. This represents a 12.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.40% of the company’s stock.

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.