1,600 Shares in Portland General Electric Company $POR Purchased by Eastern Bank

Eastern Bank acquired a new stake in Portland General Electric Company (NYSE:POR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,600 shares of the utilities provider’s stock, valued at approximately $65,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Trust Co. NA grew its position in shares of Portland General Electric by 62.6% in the 1st 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. Menard Financial Group LLC lifted its stake 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 worth $251,000 after purchasing an additional 257 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Portland General Electric by 1.6% in the first quarter. Private Advisor Group LLC now owns 17,986 shares of the utilities provider’s stock worth $802,000 after purchasing an additional 279 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Portland General Electric by 25.3% in the first quarter. Hexagon Capital Partners LLC now owns 1,443 shares of the utilities provider’s stock worth $64,000 after purchasing an additional 291 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in Portland General Electric by 1.9% during the first quarter. Benjamin Edwards Inc. now owns 17,820 shares of the utilities provider’s stock valued at $795,000 after purchasing an additional 330 shares during the last quarter.

Portland General Electric Stock Down 0.6%

POR stock opened at $43.54 on Monday. The firm’s 50-day moving average is $42.75 and its two-hundred day moving average is $42.08. 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 $4.77 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 3.99 and a beta of 0.62. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $49.85.

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. The business had revenue of $807.00 million for 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 business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. On average, analysts forecast that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

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

Wall Street Analyst Weigh In

POR has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Portland General Electric in a research report on Wednesday, October 8th. 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, Barclays cut their target price on shares of Portland General Electric from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.40.

Insider Buying and Selling

In other news, CEO Maria M. Pope sold 18,896 shares of Portland General Electric stock in a transaction that occurred on Wednesday, September 10th. The shares were 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 transaction of $77,673.70. Following the completion of the sale, the director owned 13,509 shares in the company, 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 have sold a total of 23,436 shares of company stock valued at $988,388 over the last three months. Company insiders own 0.40% of the company’s stock.

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.