Congress Asset Management Co. Has $5.70 Million Holdings in Portland General Electric (NYSE:POR)

Congress Asset Management Co. lessened its holdings in Portland General Electric (NYSE:POR) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,729 shares of the utilities provider’s stock after selling 4,798 shares during the period. Congress Asset Management Co.’s holdings in Portland General Electric were worth $5,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Portland General Electric by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock worth $519,651,000 after acquiring an additional 572,531 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in 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 acquiring an additional 635,987 shares during the period. JPMorgan Chase & Co. raised its holdings in Portland General Electric by 2.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider’s stock worth $145,403,000 after acquiring an additional 93,903 shares during the period. Geode Capital Management LLC raised its holdings in Portland General Electric by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider’s stock worth $108,710,000 after acquiring an additional 47,172 shares during the period. Finally, Zimmer Partners LP raised its holdings in 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 acquiring an additional 463,685 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently commented on POR. 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. LADENBURG THALM/SH SH downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, February 18th. KeyCorp downgraded shares of Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 target price on the stock. in a report on Wednesday, May 14th. Barclays dropped their price objective on shares of Portland General Electric from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Finally, Evercore ISI dropped their price objective 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and an average price target of $45.60.

Insider Activity at Portland General Electric

In related news, EVP Benjamin Felton sold 1,845 shares of the company’s stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following the sale, the executive vice president now owns 32,646 shares of the company’s stock, valued at $1,404,430.92. The trade was a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by insiders.

Portland General Electric Stock Performance

NYSE:POR opened at $40.97 on Monday. The firm’s 50-day moving average is $42.31 and its 200-day moving average is $43.19. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.11 and a beta of 0.57.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $928.00 million for the quarter, compared to the consensus estimate of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 EPS. Equities research analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a yield of 5.13%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.50. Portland General Electric’s payout ratio is presently 73.94%.

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.