Assetmark Inc. Trims Holdings in Portland General Electric Company (NYSE:POR)

Assetmark Inc. reduced its stake in shares of Portland General Electric Company (NYSE:POR) by 10.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,589 shares of the utilities provider’s stock after selling 430 shares during the period. Assetmark Inc.’s holdings in Portland General Electric were worth $160,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of POR. KBC Group NV grew its position in Portland General Electric by 29.3% in the first quarter. KBC Group NV now owns 4,717 shares of the utilities provider’s stock valued at $210,000 after acquiring an additional 1,068 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Portland General Electric by 17.5% in the first quarter. New York State Teachers Retirement System now owns 39,793 shares of the utilities provider’s stock worth $1,775,000 after purchasing an additional 5,927 shares during the period. Blair William & Co. IL boosted its holdings in 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 period. M&T Bank Corp boosted its holdings in Portland General Electric by 21.9% in the first quarter. M&T Bank Corp now owns 19,691 shares of the utilities provider’s stock worth $878,000 after purchasing an additional 3,538 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in Portland General Electric by 6.5% in the first quarter. State of Alaska Department of Revenue now owns 12,806 shares of the utilities provider’s stock worth $571,000 after purchasing an additional 780 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have commented on POR. Barclays decreased their price objective on shares of Portland General Electric from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, July 22nd. Evercore ISI decreased their price objective on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. decreased their price objective on shares of Portland General Electric from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, May 19th. KeyCorp downgraded shares of Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 price objective for the company. in a report on Wednesday, May 14th. Finally, UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $47.00 to $50.00 in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Portland General Electric presently has a consensus rating of “Hold” and a consensus target price of $45.40.

Insiders Place Their Bets

In related news, Director Michael A. Lewis sold 1,937 shares of Portland General Electric stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $40.10, for a total value of $77,673.70. Following the transaction, the director owned 13,509 shares of the company’s stock, valued at approximately $541,710.90. This trade represents a 12.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Portland General Electric Price Performance

Shares of Portland General Electric stock opened at $41.43 on Monday. 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’s 50-day moving average price is $41.00 and its two-hundred day moving average price is $42.15. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $49.85. The stock has a market cap of $4.54 billion, a PE 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 issued 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 firm had revenue of $807.00 million for 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 revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. As a group, sell-side analysts anticipate that Portland General Electric Company will post 3.21 EPS 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%.

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.