Victory Capital Management Inc. Has $43.26 Million Position in Portland General Electric (NYSE:POR)

Victory Capital Management Inc. cut its holdings in shares of Portland General Electric (NYSE:POR) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 998,169 shares of the utilities provider’s stock after selling 42,672 shares during the period. Victory Capital Management Inc. owned about 0.99% of Portland General Electric worth $43,261,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in Portland General Electric by 181.8% during the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock worth $27,000 after buying an additional 409 shares during the period. BKM Wealth Management LLC acquired a new stake in Portland General Electric during the 4th quarter worth approximately $33,000. Allworth Financial LP boosted its position in Portland General Electric by 44.0% during the 3rd quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock worth $35,000 after buying an additional 261 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in Portland General Electric during the 4th quarter worth approximately $38,000. Finally, GAMMA Investing LLC acquired a new stake in Portland General Electric during the 4th quarter worth approximately $38,000.

Insider Activity at Portland General Electric

In related news, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the sale, 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 SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by insiders.

Portland General Electric Stock Performance

NYSE:POR opened at $43.77 on Monday. The company has a fifty day moving average of $41.61 and a 200-day moving average of $41.58. The firm has a market capitalization of $4.51 billion, a P/E ratio of 16.77 and a beta of 0.56. The company has a quick ratio of 1.09, a current ratio of 1.22 and a debt-to-equity ratio of 1.34. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $51.58.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.12. The company had revenue of $929.00 million during the quarter, compared to analyst estimates of $828.94 million. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. Portland General Electric’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 EPS. As a group, sell-side analysts anticipate that Portland General Electric will post 3.08 EPS for the current year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be given a $0.50 dividend. The ex-dividend date is Friday, June 21st. This represents a $2.00 annualized dividend and a yield of 4.57%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s dividend payout ratio (DPR) is presently 72.80%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and cut their target price for the stock from $47.00 to $45.00 in a research report on Monday, January 29th. Bank of America lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $55.00 to $43.00 in a report on Monday, February 5th. Barclays lowered their price target on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Mizuho restated a “neutral” rating and set a $42.00 price target (down previously from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. Finally, StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Portland General Electric has an average rating of “Moderate Buy” and an average price target of $45.13.

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.