Portland General Electric Company $POR Stock Position Cut by Leeward Investments LLC MA

Leeward Investments LLC MA trimmed its holdings in Portland General Electric Company (NYSE:POR) by 55.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 245,930 shares of the utilities provider’s stock after selling 307,309 shares during the quarter. Leeward Investments LLC MA’s holdings in Portland General Electric were worth $9,992,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of POR. Janney Montgomery Scott LLC acquired a new stake in Portland General Electric in the 1st quarter valued at about $1,321,000. State of Alaska Department of Revenue lifted its holdings in Portland General Electric by 6.5% in the 1st quarter. State of Alaska Department of Revenue now owns 12,806 shares of the utilities provider’s stock valued at $571,000 after acquiring an additional 780 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Portland General Electric by 1.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,878 shares of the utilities provider’s stock valued at $887,000 after acquiring an additional 335 shares during the last quarter. Trust Co. of Vermont lifted its holdings in Portland General Electric by 5.4% in the 1st quarter. Trust Co. of Vermont now owns 8,994 shares of the utilities provider’s stock valued at $401,000 after acquiring an additional 458 shares during the last quarter. Finally, KBC Group NV lifted its stake in Portland General Electric by 29.3% during the first quarter. KBC Group NV now owns 4,717 shares of the utilities provider’s stock valued at $210,000 after buying an additional 1,068 shares in the last quarter.

Insider Buying and Selling

In related news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $41.35, for a total value of $107,634.05. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Maria M. Pope sold 18,896 shares of the 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 in the company, valued at approximately $8,250,737.50. This trade represents a 8.87% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Portland General Electric Trading Up 0.8%

NYSE:POR opened at $46.17 on Friday. The stock’s 50 day moving average price is $43.20 and its 200 day moving average price is $42.18. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $49.85. 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. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 EPS 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 firm had revenue of $807.00 million for the quarter, compared to the consensus estimate of $797.97 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. On average, research analysts forecast that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

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 issued 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 4.5%. Portland General Electric’s dividend payout ratio is currently 77.49%.

Analyst Upgrades and Downgrades

POR has been the subject of a number of analyst reports. BTIG Research raised shares of Portland General Electric to a “strong-buy” rating in a research note on Wednesday. Jefferies Financial Group upped their price objective on shares of Portland General Electric from $43.00 to $46.00 and gave the company a “hold” rating in a research note on Wednesday. Barclays upped their price objective on shares of 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. Zacks Research raised shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Portland General Electric in a research note on Saturday. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.73.

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.