Natixis Advisors LLC Decreases Stock Holdings in Portland General Electric Company (NYSE:POR)

Natixis Advisors LLC trimmed its holdings in shares of Portland General Electric Company (NYSE:POR) by 26.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 238,017 shares of the utilities provider’s stock after selling 84,669 shares during the quarter. Natixis Advisors LLC owned 0.22% of Portland General Electric worth $10,616,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of POR. Wayfinding Financial LLC bought a new position in shares of Portland General Electric in the first quarter worth $27,000. True Wealth Design LLC bought a new position in shares of Portland General Electric in the fourth quarter worth $27,000. Private Trust Co. NA boosted 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 worth $28,000 after acquiring an additional 244 shares during the period. Global X Japan Co. Ltd. boosted its holdings in shares of Portland General Electric by 113.1% in the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 345 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Portland General Electric in the fourth quarter worth $52,000.

Portland General Electric Price Performance

Shares of NYSE POR opened at $41.43 on Monday. 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 cap of $4.54 billion, a P/E ratio of 15.29, a PEG ratio of 3.79 and a beta of 0.55. The company has a 50 day moving average of $41.00 and a 200 day moving average of $42.15. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $807.00 million during 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 company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 EPS. As a group, research analysts expect that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

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

Insider Activity at Portland General Electric

In other Portland General Electric news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction dated 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 owned 13,509 shares of the company’s stock, 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 at the SEC website. 0.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

POR has been the subject of several research analyst reports. UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $50.00 in a research note on Monday, May 5th. KeyCorp lowered Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 price objective for the company. in a research note on Wednesday, May 14th. Wells Fargo & Company dropped their price objective on Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. BMO Capital Markets initiated coverage on Portland General Electric in a research note on Tuesday, May 13th. They set a “market perform” rating and a $46.00 price objective for the company. Finally, Wall Street Zen raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.40.

Portland General Electric 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.