Federated Hermes Inc. Trims Stock Holdings in Portland General Electric (NYSE:POR)

Federated Hermes Inc. trimmed its holdings in Portland General Electric (NYSE:POR) by 22.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 134,134 shares of the utilities provider’s stock after selling 38,856 shares during the quarter. Federated Hermes Inc. owned approximately 0.13% of Portland General Electric worth $5,813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised its holdings in shares of Portland General Electric by 2.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,597,563 shares of the utilities provider’s stock worth $105,149,000 after buying an additional 58,852 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in Portland General Electric by 12.8% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,944,864 shares of the utilities provider’s stock worth $78,728,000 after purchasing an additional 220,674 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Portland General Electric by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,161,970 shares of the utilities provider’s stock worth $47,037,000 after purchasing an additional 68,393 shares in the last quarter. Victory Capital Management Inc. grew its stake in Portland General Electric by 69.3% in the third quarter. Victory Capital Management Inc. now owns 1,040,841 shares of the utilities provider’s stock worth $42,133,000 after purchasing an additional 425,923 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in Portland General Electric by 2.7% in the third quarter. Brown Advisory Inc. now owns 700,408 shares of the utilities provider’s stock worth $28,353,000 after purchasing an additional 18,089 shares in the last quarter.

Analysts Set New Price Targets

POR has been the topic of several research analyst reports. StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $47.00 to $45.00 in a research note on Monday, January 29th. Mizuho reissued a “neutral” rating and issued a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Barclays dropped their price objective on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Finally, Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and dropped their target price for the company from $55.00 to $43.00 in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.13.

Insider Activity

In related news, COO Benjamin Felton sold 3,500 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the transaction, the chief operating officer now owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Portland General Electric Stock Down 1.0 %

Shares of NYSE POR opened at $43.25 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $4.38 billion, a PE ratio of 18.56 and a beta of 0.57. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $51.58. The stock’s fifty day simple moving average is $41.33 and its two-hundred day simple moving average is $41.50.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, February 16th. The utilities provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.20). The business had revenue of $725.00 million during the quarter, compared to analyst estimates of $740.21 million. Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. As a group, analysts expect that Portland General Electric will post 3.07 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, June 21st. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s payout ratio is 81.55%.

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.