Mutual of America Capital Management LLC Sells 1,816 Shares of Portland General Electric Company $POR

Mutual of America Capital Management LLC decreased its stake in Portland General Electric Company (NYSE:POR) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,462 shares of the utilities provider’s stock after selling 1,816 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Portland General Electric were worth $2,213,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. ATLAS Infrastructure Partners UK Ltd. grew its holdings in shares of Portland General Electric by 164.5% during the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,400,635 shares of the utilities provider’s stock worth $196,268,000 after purchasing an additional 2,736,811 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Portland General Electric by 644.2% during the first quarter. AQR Capital Management LLC now owns 2,014,491 shares of the utilities provider’s stock worth $89,846,000 after purchasing an additional 1,743,791 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Portland General Electric by 22.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider’s stock worth $216,950,000 after purchasing an additional 904,692 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Portland General Electric by 4.7% during the first quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider’s stock worth $556,266,000 after purchasing an additional 559,201 shares during the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of Portland General Electric by 54.0% during the first quarter. Brown Advisory Inc. now owns 1,085,699 shares of the utilities provider’s stock worth $48,422,000 after purchasing an additional 380,749 shares during the last quarter.

Portland General Electric Stock Performance

Shares of NYSE POR opened at $46.17 on Friday. The stock has a 50 day moving average of $43.20 and a 200-day moving average of $42.18. The company has a market capitalization of $5.06 billion, a P/E ratio of 17.04, a P/E/G ratio of 4.22 and a beta of 0.62. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $49.85. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data 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. The firm 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 company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 EPS. As a group, equities research analysts predict 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 Thursday, January 15th. Investors of record on Monday, December 22nd will be given a dividend of $0.525 per share. The ex-dividend date is Monday, December 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 4.5%. Portland General Electric’s payout ratio is currently 77.49%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on POR shares. Zacks Research raised Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Portland General Electric in a research note on Saturday. Barclays increased their target price on Portland General Electric from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Jefferies Financial Group increased their target price on Portland General Electric from $43.00 to $46.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, BTIG Research raised Portland General Electric to a “strong-buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have issued 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 has an average rating of “Hold” and an average price target of $46.73.

Insiders Place Their Bets

In related news, CEO Maria M. Pope sold 18,896 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total transaction of $803,080.00. Following the sale, the chief executive officer owned 194,135 shares in the company, valued at $8,250,737.50. The trade was a 8.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $41.35, for a total value of $107,634.05. Following the completion of the sale, the chief financial officer owned 27,089 shares in the company, valued at $1,120,130.15. This trade represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Portland General Electric Company 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.