Portland General Electric Company $POR Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its stake in shares of Portland General Electric Company (NYSE:POR) by 45.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,966 shares of the utilities provider’s stock after selling 13,455 shares during the quarter. Bank of Montreal Can’s holdings in Portland General Electric were worth $649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in POR. Vanguard Group Inc. boosted its stake in shares of Portland General Electric by 4.7% during the 1st 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. Fuller & Thaler Asset Management Inc. lifted its stake 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 valued at $216,950,000 after buying an additional 904,692 shares during the period. ATLAS Infrastructure Partners UK Ltd. boosted its position in 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 acquiring an additional 2,736,811 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Portland General Electric by 14.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,878,528 shares of the utilities provider’s stock worth $128,382,000 after acquiring an additional 366,640 shares during the period. Finally, Invesco Ltd. grew its stake in Portland General Electric by 3.7% in the 1st quarter. Invesco Ltd. now owns 2,282,513 shares of the utilities provider’s stock worth $101,800,000 after acquiring an additional 82,427 shares during the period.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BTIG Research raised Portland General Electric to a “strong-buy” rating in a research note on Wednesday, October 22nd. Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Barclays raised their price target on Portland General Electric from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research note on Thursday. Finally, Jefferies Financial Group increased their price objective on shares of Portland General Electric from $43.00 to $46.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.83.

Portland General Electric Stock Performance

Portland General Electric stock opened at $49.42 on Monday. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 4.18 and a beta of 0.67. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $50.95. 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 stock’s 50-day moving average is $44.75 and its 200-day moving average is $42.73.

Portland General Electric (NYSE:POR) last posted its earnings results on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $952.00 million during the quarter, compared to the consensus estimate of $975.64 million. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Equities analysts anticipate that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 22nd will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, December 22nd. This represents a $2.10 annualized dividend and a dividend yield of 4.2%. Portland General Electric’s payout ratio is presently 76.36%.

Insiders Place Their Bets

In other Portland General Electric news, CEO Maria M. Pope sold 18,896 shares of the firm’s stock in a transaction dated 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 directly owned 194,135 shares of the company’s stock, valued at $8,250,737.50. This trade represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.