Phocas Financial Corp. Reduces Holdings in Portland General Electric Company (NYSE:POR)

Phocas Financial Corp. reduced its stake in Portland General Electric Company (NYSE:POR) by 5.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 181,611 shares of the utilities provider’s stock after selling 10,409 shares during the quarter. Portland General Electric comprises about 1.2% of Phocas Financial Corp.’s portfolio, making the stock its 20th largest holding. Phocas Financial Corp. owned about 0.17% of Portland General Electric worth $8,100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. American Century Companies Inc. raised its stake in Portland General Electric by 3.7% in the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider’s stock worth $6,166,000 after acquiring an additional 5,084 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Portland General Electric by 33.7% in the fourth quarter. LPL Financial LLC now owns 48,700 shares of the utilities provider’s stock valued at $2,124,000 after purchasing an additional 12,265 shares during the period. Blair William & Co. IL raised its stake 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 worth $258,000 after purchasing an additional 692 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Portland General Electric by 8.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 17,442 shares of the utilities provider’s stock worth $761,000 after purchasing an additional 1,343 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in Portland General Electric in the fourth quarter valued at approximately $811,000.

Insider Transactions at Portland General Electric

In other Portland General Electric 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 approximately $541,710.90. This represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Portland General Electric Trading Up 0.8%

Shares of Portland General Electric stock opened at $41.43 on Friday. The firm has a 50-day simple moving average of $41.00 and a two-hundred day simple moving average of $42.15. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $49.85. The company has a market cap of $4.54 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 3.79 and a beta of 0.55.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $807.00 million during the quarter, compared to analysts’ expectations of $797.97 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%. Portland General Electric’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. As a group, equities 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, September 25th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a yield of 5.1%. Portland General Electric’s dividend payout ratio (DPR) is currently 77.49%.

Analysts Set New Price Targets

A number of research firms have issued reports on POR. KeyCorp lowered shares of Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 price target for the company. in a research report on Wednesday, May 14th. UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and raised their target price for the stock from $47.00 to $50.00 in a report on Monday, May 5th. BMO Capital Markets assumed coverage on shares of Portland General Electric in a report on Tuesday, May 13th. They issued a “market perform” rating and a $46.00 price target on the stock. Barclays cut their price target on 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, Wall Street Zen raised Portland General Electric from a “sell” rating to a “hold” rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Portland General Electric has a consensus rating of “Hold” and a consensus target price of $45.40.

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.