US Bancorp DE Lowers Holdings in Portland General Electric Company (NYSE:POR)

US Bancorp DE lessened its stake in Portland General Electric Company (NYSE:POR) by 13.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,731 shares of the utilities provider’s stock after selling 1,643 shares during the quarter. US Bancorp DE’s holdings in Portland General Electric were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Menard Financial Group LLC grew its position in Portland General Electric by 4.6% during the first quarter. Menard Financial Group LLC now owns 5,905 shares of the utilities provider’s stock valued at $251,000 after buying an additional 257 shares during the period. Vestcor Inc grew its position in Portland General Electric by 13.6% during the first quarter. Vestcor Inc now owns 7,765 shares of the utilities provider’s stock valued at $346,000 after buying an additional 929 shares during the period. XTX Topco Ltd bought a new stake in Portland General Electric during the first quarter valued at approximately $2,574,000. GSA Capital Partners LLP grew its position in Portland General Electric by 96.4% during the first quarter. GSA Capital Partners LLP now owns 25,075 shares of the utilities provider’s stock valued at $1,118,000 after buying an additional 12,308 shares during the period. Finally, Federated Hermes Inc. grew its position in Portland General Electric by 19.3% during the first quarter. Federated Hermes Inc. now owns 211,049 shares of the utilities provider’s stock valued at $9,413,000 after buying an additional 34,156 shares during the period.

Analyst Ratings Changes

A number of brokerages recently issued reports on POR. JPMorgan Chase & Co. cut their price objective on 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. Evercore ISI lowered their price target on Portland General Electric from $51.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. KeyCorp cut Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 price target on the stock. in a report on Wednesday, May 14th. UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $47.00 to $50.00 in a report on Monday, May 5th. 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 assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.40.

Insider Buying and Selling

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of Portland General Electric stock in a transaction on Friday, August 1st. The stock was sold at an average price of $41.35, for a total value of $107,634.05. Following the sale, the chief financial officer owned 27,089 shares in the company, valued at $1,120,130.15. The trade was a 8.77% 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. Also, Director Michael A. Lewis sold 1,937 shares of Portland General Electric stock in a transaction 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 completion of the sale, the director directly owned 13,509 shares of the company’s stock, valued at $541,710.90. The trade was a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Portland General Electric Trading Up 1.1%

Shares of NYSE:POR opened at $42.64 on Wednesday. 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 $4.67 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 3.86 and a beta of 0.55. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28. The business has a 50-day moving average price of $40.99 and a 200-day moving average price of $42.18.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm had revenue of $807.00 million for the quarter, compared to analyst estimates 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 for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. Equities analysts predict that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend yield of 4.9%. Portland General Electric’s payout ratio 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.