CSM Advisors LLC Makes New $6.06 Million Investment in Portland General Electric Company $POR

CSM Advisors LLC acquired a new stake in Portland General Electric Company (NYSE:POR) in the 2nd quarter, Holdings Channel reports. The firm acquired 149,145 shares of the utilities provider’s stock, valued at approximately $6,063,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. M&T Bank Corp raised its stake in Portland General Electric by 21.9% during the 1st quarter. M&T Bank Corp now owns 19,691 shares of the utilities provider’s stock valued at $878,000 after purchasing an additional 3,538 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Portland General Electric in the 2nd quarter worth $376,000. Eastern Bank bought a new position in shares of Portland General Electric during the 2nd quarter worth about $65,000. Envestnet Asset Management Inc. raised its position in shares of Portland General Electric by 5.5% during the second quarter. Envestnet Asset Management Inc. now owns 513,398 shares of the utilities provider’s stock valued at $20,859,000 after buying an additional 26,753 shares during the last quarter. Finally, Vanguard Group Inc. lifted 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 valued at $556,266,000 after buying an additional 559,201 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on POR. Jefferies Financial Group boosted their price target on Portland General Electric from $43.00 to $46.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company assumed coverage on Portland General Electric in a research report on Monday, October 27th. They set an “equal weight” rating and a $45.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Portland General Electric in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Mizuho set a $47.00 price objective on shares of Portland General Electric in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.83.

Insider Buying and Selling at Portland General Electric

In other news, CEO Maria M. Pope sold 18,896 shares of Portland General Electric 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 completion of the transaction, the chief executive officer owned 194,135 shares in the company, valued at approximately $8,250,737.50. The trade was a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.40% of the company’s stock.

Portland General Electric Stock Performance

Shares of NYSE:POR opened at $47.88 on Monday. 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 business’s fifty day moving average price is $44.03 and its two-hundred day moving average price is $42.45. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $48.40. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 4.18 and a beta of 0.67.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, October 31st. The utilities provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The company had revenue of $952.00 million for the quarter, compared to the consensus estimate of $975.64 million. During the same quarter in the previous year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. As a group, analysts predict that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, December 22nd. Portland General Electric’s dividend payout ratio is currently 76.36%.

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.