Truist Financial Corp Sells 4,198 Shares of Portland General Electric Company $POR

Truist Financial Corp lessened its holdings in shares of Portland General Electric Company (NYSE:POR) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,288 shares of the utilities provider’s stock after selling 4,198 shares during the quarter. Truist Financial Corp owned 0.09% of Portland General Electric worth $3,953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in POR. Wayfinding Financial LLC bought a new stake in shares of Portland General Electric during the first quarter worth about $27,000. Private Trust Co. NA increased its position in shares of Portland General Electric by 62.6% during 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 in the last quarter. Global X Japan Co. Ltd. increased its holdings in Portland General Electric by 113.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 345 shares in the last quarter. S.A. Mason LLC bought a new stake in Portland General Electric during the 2nd quarter worth approximately $29,000. Finally, Tompkins Financial Corp increased its holdings in Portland General Electric by 83.3% during the 2nd quarter. Tompkins Financial Corp now owns 1,100 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 500 shares in the last quarter.

Portland General Electric Price Performance

POR opened at $43.91 on Thursday. The firm has a market cap of $4.81 billion, a P/E ratio of 16.20, a PEG ratio of 4.01 and a beta of 0.62. The firm has a 50-day moving average of $42.65 and a 200 day moving average of $42.09. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. The firm’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. On average, research analysts expect that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The company 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 yield of 4.8%. The ex-dividend date of this dividend is Thursday, September 25th. Portland General Electric’s dividend payout ratio is 77.49%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Portland General Electric in a report on Wednesday. Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Finally, Barclays decreased their price target on 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. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.40.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $40.10, for a total transaction of $77,673.70. Following the completion of the transaction, the director directly owned 13,509 shares of the company’s stock, valued at approximately $541,710.90. This represents a 12.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maria M. Pope sold 18,896 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total value of $803,080.00. Following the transaction, the chief executive officer owned 194,135 shares of the company’s stock, valued at $8,250,737.50. The trade was a 8.87% 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 valued at $988,388. Company insiders own 0.40% of the company’s stock.

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.