Portland General Electric Company $POR Shares Acquired by Legal & General Group Plc

Legal & General Group Plc boosted its holdings in Portland General Electric Company (NYSE:POR) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 657,784 shares of the utilities provider’s stock after acquiring an additional 36,714 shares during the quarter. Legal & General Group Plc owned 0.60% of Portland General Electric worth $26,726,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased 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 valued at $556,266,000 after purchasing an additional 559,201 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in Portland General Electric by 22.8% in the 1st 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 in the last quarter. ATLAS Infrastructure Partners UK Ltd. increased its stake in Portland General Electric by 164.5% during the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,400,635 shares of the utilities provider’s stock valued at $196,268,000 after buying an additional 2,736,811 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Portland General Electric by 14.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,878,528 shares of the utilities provider’s stock worth $128,382,000 after buying an additional 366,640 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Portland General Electric by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,764,380 shares of the utilities provider’s stock worth $112,337,000 after acquiring an additional 110,567 shares during the period.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $50.76 on Friday. The company has a market capitalization of $5.71 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 4.18 and a beta of 0.67. 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 has a fifty day moving average of $46.08 and a 200-day moving average of $43.19. Portland General Electric Company has a one year low of $39.54 and a one year high of $50.95.

Portland General Electric (NYSE:POR) last announced 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. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.The company had revenue of $952.00 million for the quarter, compared to analyst estimates of $975.64 million. During the same period in the previous year, the firm earned $0.90 earnings per share. Portland General Electric’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, December 22nd. Portland General Electric’s payout ratio is presently 76.36%.

Analysts Set New Price Targets

A number of research firms recently commented on POR. 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. BTIG Research raised Portland General Electric to a “strong-buy” 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 target on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Portland General Electric in a report on Tuesday. Finally, Barclays raised 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. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.92.

Insider Buying and Selling

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 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 directly owned 194,135 shares in the company, valued at $8,250,737.50. This trade represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate 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.