Portland General Electric Company $POR Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its stake in Portland General Electric Company (NYSE:POR) by 1.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,177 shares of the utilities provider’s stock after selling 452 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Portland General Electric were worth $1,185,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. KBC Group NV boosted its stake in shares of Portland General Electric by 29.3% in the first quarter. KBC Group NV now owns 4,717 shares of the utilities provider’s stock worth $210,000 after buying an additional 1,068 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Portland General Electric by 17.5% in the first quarter. New York State Teachers Retirement System now owns 39,793 shares of the utilities provider’s stock worth $1,775,000 after buying an additional 5,927 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Portland General Electric by 21.9% in the first quarter. M&T Bank Corp now owns 19,691 shares of the utilities provider’s stock worth $878,000 after buying an additional 3,538 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Portland General Electric by 6.5% in the first quarter. State of Alaska Department of Revenue now owns 12,806 shares of the utilities provider’s stock worth $571,000 after buying an additional 780 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Portland General Electric by 4.7% in the first quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider’s stock worth $556,266,000 after buying an additional 559,201 shares during the last quarter.

Wall Street Analyst Weigh In

POR has been the topic of a number of recent research reports. Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Portland General Electric in a report on Wednesday, October 8th. Finally, Barclays reduced their target price 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 equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Portland General Electric currently has an average rating of “Hold” and a consensus price target of $45.40.

Portland General Electric Stock Down 0.9%

NYSE POR opened at $43.20 on Tuesday. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $49.85. 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’s fifty day simple moving average is $42.77 and its 200-day simple moving average is $42.07. The firm has a market cap of $4.73 billion, a PE ratio of 15.94, a P/E/G ratio of 3.99 and a beta of 0.62.

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

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 4.9%. Portland General Electric’s dividend payout ratio (DPR) is 77.49%.

Insiders Place Their Bets

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the firm’s stock in a transaction 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 sale, the chief financial officer owned 27,089 shares of the company’s stock, valued at $1,120,130.15. This trade represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. Lewis sold 1,937 shares of the firm’s stock in a transaction 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 directly owned 13,509 shares of the company’s stock, valued at approximately $541,710.90. This trade represents a 12.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,436 shares of company stock valued at $988,388 over the last quarter. 0.40% of the stock is owned by insiders.

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.