American Century Companies Inc. Decreases Stock Holdings in Portland General Electric Company $POR

American Century Companies Inc. lowered its position in Portland General Electric Company (NYSE:POR) by 71.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 40,571 shares of the utilities provider’s stock after selling 100,796 shares during the period. American Century Companies Inc.’s holdings in Portland General Electric were worth $1,809,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new position in Portland General Electric in the 1st quarter valued at $566,000. Sei Investments Co. increased its stake in shares of Portland General Electric by 1.9% in the 1st quarter. Sei Investments Co. now owns 120,157 shares of the utilities provider’s stock worth $5,266,000 after acquiring an additional 2,236 shares during the last quarter. Fox Hill Wealth Management increased its stake in shares of Portland General Electric by 14.5% in the 1st quarter. Fox Hill Wealth Management now owns 34,752 shares of the utilities provider’s stock worth $1,550,000 after acquiring an additional 4,410 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Portland General Electric by 5.4% in the 1st quarter. HighTower Advisors LLC now owns 79,481 shares of the utilities provider’s stock worth $3,545,000 after acquiring an additional 4,092 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Portland General Electric in the 1st quarter worth $398,000.

Portland General Electric Stock Up 0.3%

Shares of NYSE:POR opened at $42.77 on Tuesday. The business has a 50-day moving average price of $41.50 and a 200 day moving average price of $42.30. 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 $4.69 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 3.91 and a beta of 0.63. Portland General Electric Company has a 12-month low of $39.54 and a 12-month high of $49.85.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $807.00 million during the quarter, compared to the consensus estimate of $797.97 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.69 EPS. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Sell-side analysts expect that Portland General Electric Company will post 3.21 EPS for the current 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 given 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 4.9%. Portland General Electric’s payout ratio is currently 77.49%.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $41.35, for a total transaction of $107,634.05. Following the completion of the transaction, the chief financial officer directly owned 27,089 shares of the company’s stock, valued at approximately $1,120,130.15. The trade was a 8.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael A. Lewis sold 1,937 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $40.10, for a total value of $77,673.70. Following the sale, the director owned 13,509 shares of the company’s stock, valued at approximately $541,710.90. The trade was a 12.54% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on POR. JPMorgan Chase & Co. cut their target price 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. KeyCorp downgraded Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 target price for the company. in a research note on Wednesday, May 14th. Barclays cut their target price on Portland General Electric from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 22nd. BMO Capital Markets began coverage on Portland General Electric in a research note on Tuesday, May 13th. They issued a “market perform” rating and a $46.00 target price for the company. Finally, UBS Group raised 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 research note on Monday, May 5th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $45.40.

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.