Portland General Electric Company (NYSE:POR) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd reduced its stake in Portland General Electric Company (NYSE:POR) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,843 shares of the utilities provider’s stock after selling 410 shares during the period. Magellan Asset Management Ltd’s holdings in Portland General Electric were worth $3,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Portland General Electric by 19.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider’s stock worth $172,720,000 after purchasing an additional 635,987 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Portland General Electric by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider’s stock worth $556,266,000 after purchasing an additional 559,201 shares in the last quarter. Zimmer Partners LP raised its holdings in shares of Portland General Electric by 25.2% in the 4th quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider’s stock worth $100,598,000 after purchasing an additional 463,685 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Portland General Electric by 54.0% in the 1st quarter. Brown Advisory Inc. now owns 1,085,699 shares of the utilities provider’s stock worth $48,422,000 after purchasing an additional 380,749 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Portland General Electric by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,200,086 shares of the utilities provider’s stock worth $95,968,000 after purchasing an additional 271,540 shares in the last quarter.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $41.35, for a total transaction of $107,634.05. Following the transaction, the chief financial officer owned 27,089 shares in the company, valued at $1,120,130.15. This represents a 8.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $40.10, for a total transaction of $77,673.70. Following the transaction, the director owned 13,509 shares in the company, valued at approximately $541,710.90. This trade represents a 12.54% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on POR shares. Wells Fargo & Company dropped their target price on shares of Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Evercore ISI dropped their target price on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. cut their price target on shares of Portland General Electric from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, May 19th. Wall Street Zen upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Friday, April 25th. Finally, Barclays cut their price target on shares of Portland General Electric from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and an average target price of $45.40.

Portland General Electric Stock Performance

Shares of POR opened at $42.06 on Friday. The company’s 50 day moving average price is $40.99 and its 200 day moving average price is $42.16. 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 $4.61 billion, a PE ratio of 15.52, a PEG ratio of 3.85 and a beta of 0.55. 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 announced its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The firm had revenue of $807.00 million for the quarter, compared to the consensus estimate of $797.97 million. During the same period in the previous year, the firm posted $0.69 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. Research analysts expect that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be paid a dividend of $0.525 per share. The ex-dividend date is Thursday, September 25th. This represents a $2.10 annualized dividend and a dividend yield of 5.0%. Portland General Electric’s dividend payout ratio is 77.49%.

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.