Boston Partners Purchases 155,298 Shares of Portland General Electric Company $POR

Boston Partners boosted its position in shares of Portland General Electric Company (NYSE:POR) by 46.2% in the second quarter, HoldingsChannel reports. The fund owned 491,577 shares of the utilities provider’s stock after purchasing an additional 155,298 shares during the quarter. Boston Partners’ holdings in Portland General Electric were worth $19,975,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of POR. IFP Advisors Inc increased its position 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 worth $27,000 after purchasing an additional 620 shares in the last quarter. S.A. Mason LLC purchased a new position in Portland General Electric during the 2nd quarter worth $29,000. Tompkins Financial Corp grew its stake in Portland General Electric by 83.3% during the 2nd quarter. Tompkins Financial Corp now owns 1,100 shares of the utilities provider’s stock worth $45,000 after buying an additional 500 shares during the last quarter. Costello Asset Management INC acquired a new position in Portland General Electric during the 1st quarter valued at about $46,000. Finally, Ransom Advisory Ltd purchased a new stake in Portland General Electric in the first quarter valued at about $52,000.

Insider Activity at Portland General Electric

In other news, CEO Maria M. Pope sold 18,896 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total value of $803,080.00. Following the transaction, the chief executive officer owned 194,135 shares in the company, valued at $8,250,737.50. This trade represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Mizuho set a $47.00 price target on Portland General Electric in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Portland General Electric in a research report on Wednesday, October 8th. Wells Fargo & Company began coverage on shares of Portland General Electric in a research note on Monday, October 27th. They set an “equal weight” rating and a $45.00 price target on the stock. BTIG Research raised shares of Portland General Electric to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Jefferies Financial Group boosted their price objective on shares of Portland General Electric from $43.00 to $46.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.83.

Portland General Electric Stock Down 0.2%

Shares of POR stock opened at $50.42 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28. The stock has a 50 day moving average of $44.62 and a 200 day moving average of $42.66. Portland General Electric Company has a twelve month low of $39.54 and a twelve month high of $50.95. The stock has a market cap of $5.67 billion, a P/E ratio of 18.61, a P/E/G ratio of 4.18 and a beta of 0.67.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Thursday, October 30th. The utilities provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The company had revenue of $952.00 million for the quarter, compared to analyst estimates of $975.64 million. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business earned $0.90 earnings per share. As a group, sell-side analysts expect that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.2%. Portland General Electric’s payout ratio is currently 76.36%.

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.