Boston Partners Has $15 Million Holdings in Portland General Electric Company (NYSE:POR)

Boston Partners lessened its holdings in shares of Portland General Electric Company (NYSE:POR) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 336,279 shares of the utilities provider’s stock after selling 3,344 shares during the quarter. Boston Partners owned 0.31% of Portland General Electric worth $14,997,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Bank of Montreal Can increased its holdings in Portland General Electric by 9.2% during the 4th quarter. Bank of Montreal Can now owns 22,833 shares of the utilities provider’s stock worth $996,000 after purchasing an additional 1,929 shares in the last quarter. Raymond James Financial Inc. bought a new position in Portland General Electric during the 4th quarter worth about $7,181,000. Rockefeller Capital Management L.P. increased its holdings in Portland General Electric by 13.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 12,741 shares of the utilities provider’s stock worth $556,000 after purchasing an additional 1,471 shares in the last quarter. Townsquare Capital LLC increased its holdings in Portland General Electric by 6.9% during the 4th quarter. Townsquare Capital LLC now owns 8,135 shares of the utilities provider’s stock worth $355,000 after purchasing an additional 528 shares in the last quarter. Finally, Barclays PLC increased its holdings in Portland General Electric by 50.9% during the 4th quarter. Barclays PLC now owns 314,621 shares of the utilities provider’s stock worth $13,724,000 after purchasing an additional 106,133 shares in the last quarter.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

POR has been the subject of a number of research reports. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and increased their target price for the stock from $47.00 to $50.00 in a report on Monday, May 5th. Wells Fargo & Company lowered their target price on Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. Wall Street Zen upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Friday, April 25th. KeyCorp cut Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 price objective for the company. in a report on Wednesday, May 14th. Finally, Evercore ISI decreased their price objective on Portland General Electric from $51.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Portland General Electric presently has an average rating of “Hold” and a consensus target price of $45.40.

Portland General Electric Trading Down 0.5%

Portland General Electric stock opened at $42.40 on Friday. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $49.85. 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 market capitalization of $4.65 billion, a P/E ratio of 15.65, a PEG ratio of 3.90 and a beta of 0.55. The stock has a 50-day simple moving average of $41.08 and a 200 day simple moving average of $42.19.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%. The business had revenue of $807.00 million during the quarter, compared to analysts’ expectations of $797.97 million. During the same quarter last year, the company posted $0.69 earnings per share. Portland General Electric’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts expect that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

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

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.