Johnson Investment Counsel Inc. Boosts Holdings in Portland General Electric Company $POR

Johnson Investment Counsel Inc. grew its stake in shares of Portland General Electric Company (NYSE:POR) by 0.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,261 shares of the utilities provider’s stock after purchasing an additional 301 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Portland General Electric were worth $1,555,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Eastern Bank purchased a new stake in shares of Portland General Electric during the second quarter valued at $65,000. Blue Trust Inc. boosted its stake in shares of Portland General Electric by 12.0% during the second quarter. Blue Trust Inc. now owns 3,281 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 352 shares during the period. Castellan Group boosted its stake in shares of Portland General Electric by 7.5% during the second quarter. Castellan Group now owns 78,420 shares of the utilities provider’s stock valued at $3,186,000 after purchasing an additional 5,487 shares during the period. IFP Advisors Inc boosted its stake in shares of Portland General Electric by 1,291.7% during the second quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 620 shares during the period. Finally, Blair William & Co. IL boosted its stake in shares of Portland General Electric by 7.8% during the second quarter. Blair William & Co. IL now owns 6,390 shares of the utilities provider’s stock valued at $260,000 after purchasing an additional 464 shares during the period.

Wall Street Analysts Forecast Growth

POR has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Portland General Electric in a research note on Wednesday, October 8th. Barclays lowered their target price on shares of Portland General Electric from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 22nd. Finally, Zacks Research raised shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.40.

Portland General Electric Stock Down 0.9%

NYSE:POR opened at $43.20 on Tuesday. Portland General Electric Company has a 1-year low of $39.54 and a 1-year high of $49.85. The company has a 50-day moving average of $42.77 and a 200 day moving average of $42.07. The firm has a market cap of $4.73 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 3.99 and a beta of 0.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. As a group, research analysts anticipate that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, September 25th will be issued a $0.525 dividend. The ex-dividend date is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a yield of 4.9%. Portland General Electric’s payout ratio is currently 77.49%.

Insiders Place Their Bets

In other Portland General Electric news, Director Michael A. Lewis sold 1,937 shares of the business’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $40.10, for a total value of $77,673.70. Following the completion of the transaction, the director directly owned 13,509 shares in the company, valued at approximately $541,710.90. The trade was a 12.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer owned 27,089 shares of the company’s stock, valued at $1,120,130.15. This represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,436 shares of company stock worth $988,388. 0.40% of the stock is owned by corporate insiders.

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.