State of Alaska Department of Revenue Decreases Holdings in Portland General Electric Company $POR

State of Alaska Department of Revenue trimmed its holdings in shares of Portland General Electric Company (NYSE:POR) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,291 shares of the utilities provider’s stock after selling 515 shares during the period. State of Alaska Department of Revenue’s holdings in Portland General Electric were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in POR. Wayfinding Financial LLC purchased a new stake in Portland General Electric during the 1st quarter worth $27,000. Private Trust Co. NA boosted its position in Portland General Electric by 62.6% in the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider’s stock valued at $28,000 after buying an additional 244 shares during the last quarter. Global X Japan Co. Ltd. boosted its position in Portland General Electric by 113.1% in the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider’s stock valued at $29,000 after buying an additional 345 shares during the last quarter. S.A. Mason LLC purchased a new position in Portland General Electric in the 2nd quarter valued at about $29,000. Finally, Tompkins Financial Corp boosted its position in Portland General Electric by 83.3% in the 2nd quarter. Tompkins Financial Corp now owns 1,100 shares of the utilities provider’s stock valued at $45,000 after buying an additional 500 shares during the last quarter.

Insider Buying and Selling

In related news, CEO Maria M. Pope sold 18,896 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $42.50, for a total transaction of $803,080.00. Following the completion of the sale, the chief executive officer directly owned 194,135 shares in the company, valued at approximately $8,250,737.50. This trade represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the firm’s stock in a transaction that occurred on 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 $1,120,130.15. This represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,436 shares of company stock worth $988,388. Corporate insiders own 0.40% of the company’s stock.

Portland General Electric Price Performance

NYSE POR opened at $43.91 on Thursday. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $49.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84. The firm has a market capitalization of $4.81 billion, a PE ratio of 16.20, a P/E/G ratio of 4.01 and a beta of 0.62. The company’s 50 day simple moving average is $42.65 and its 200 day simple moving average is $42.09.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The business had revenue of $807.00 million for the quarter, compared to analyst estimates of $797.97 million. During the same quarter last year, the business earned $0.69 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. As a group, equities research analysts forecast that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, September 25th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Thursday, September 25th. Portland General Electric’s dividend payout ratio (DPR) is presently 77.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays reduced their price target on shares of 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. Zacks Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Portland General Electric in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.