Connors Investor Services Inc. Raises Stake in Portland General Electric Company $POR

Connors Investor Services Inc. lifted its position in Portland General Electric Company (NYSE:POR) by 24.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,356 shares of the utilities provider’s stock after acquiring an additional 10,733 shares during the quarter. Connors Investor Services Inc.’s holdings in Portland General Electric were worth $2,249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. John G Ullman & Associates Inc. raised its holdings in shares of Portland General Electric by 3.0% in the second quarter. John G Ullman & Associates Inc. now owns 185,936 shares of the utilities provider’s stock valued at $7,555,000 after acquiring an additional 5,425 shares in the last quarter. Spirit of America Management Corp NY raised its holdings in shares of Portland General Electric by 11.4% in the second quarter. Spirit of America Management Corp NY now owns 14,650 shares of the utilities provider’s stock valued at $595,000 after acquiring an additional 1,500 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Portland General Electric by 126.0% in the second quarter. Private Trust Co. NA now owns 1,433 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 799 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Portland General Electric by 29.3% in the second quarter. Nordea Investment Management AB now owns 1,280,187 shares of the utilities provider’s stock valued at $51,668,000 after acquiring an additional 290,273 shares in the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of Portland General Electric by 2.8% in the second quarter. New York State Teachers Retirement System now owns 40,904 shares of the utilities provider’s stock valued at $1,662,000 after acquiring an additional 1,111 shares in the last quarter.

Analyst Upgrades and Downgrades

POR has been the subject of several recent research reports. Jefferies Financial Group lifted their price objective on Portland General Electric from $43.00 to $46.00 and gave the company a “hold” rating in a report on Wednesday. Barclays lifted their price objective on Portland General Electric from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday. BTIG Research upgraded shares of Portland General Electric to a “strong-buy” rating in a report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Portland General Electric in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Portland General Electric has a consensus rating of “Hold” and a consensus price target of $46.73.

Insider Buying and Selling

In related news, CEO Maria M. Pope sold 18,896 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 194,135 shares in the company, valued at $8,250,737.50. This represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the company’s stock in a transaction that occurred on 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 approximately $1,120,130.15. This represents a 8.77% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Portland General Electric Price Performance

Shares of POR stock opened at $45.35 on Thursday. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $49.85. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 4.11 and a beta of 0.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97. The stock’s 50-day simple moving average is $43.06 and its 200-day simple moving average is $42.11.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.The business had revenue of $807.00 million for the quarter, compared to analyst estimates of $797.97 million. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The company’s revenue 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. As a group, equities 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 Thursday, January 15th. Investors of record on Monday, December 22nd will be given a $0.525 dividend. The ex-dividend date is Monday, December 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 4.6%. Portland General Electric’s dividend payout ratio is currently 77.49%.

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.