Brandywine Global Investment Management LLC Sells 12,800 Shares of Portland General Electric Company $POR

Brandywine Global Investment Management LLC trimmed its stake in shares of Portland General Electric Company (NYSE:POR) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,582 shares of the utilities provider’s stock after selling 12,800 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.30% of Portland General Electric worth $13,472,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew 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 worth $27,000 after buying an additional 620 shares during the last quarter. S.A. Mason LLC bought a new position in shares of Portland General Electric in the 2nd quarter valued at $29,000. Bell Investment Advisors Inc boosted its holdings in shares of Portland General Electric by 80.6% during the 2nd quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 370 shares in the last quarter. Costello Asset Management INC acquired a new stake in shares of Portland General Electric during the 1st quarter valued at $46,000. Finally, Tompkins Financial Corp grew its position 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 acquiring an additional 500 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. UBS Group reiterated a “neutral” rating and issued a $51.00 target price on shares of Portland General Electric in a research report on Wednesday. Mizuho set a $47.00 price objective on Portland General Electric in a research note on Monday, November 3rd. Wells Fargo & Company initiated coverage on shares of Portland General Electric in a research report on Monday, October 27th. They set an “equal weight” rating and a $45.00 target price on the stock. Jefferies Financial Group boosted their target price on shares of Portland General Electric from $43.00 to $46.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Finally, BTIG Research upgraded shares of Portland General Electric to a “strong-buy” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Portland General Electric has an average rating of “Hold” and a consensus target price of $46.92.

Portland General Electric Price Performance

Shares of POR opened at $49.57 on Friday. The business has a 50-day moving average of $45.43 and a 200-day moving average of $42.97. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 4.18 and a beta of 0.67. Portland General Electric Company has a 1 year low of $39.54 and a 1 year high of $50.95.

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

Portland General Electric Announces Dividend

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

Insider Activity

In other news, CEO Maria M. Pope sold 18,896 shares of Portland General Electric stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total transaction of $803,080.00. Following the sale, the chief executive officer directly owned 194,135 shares in the company, valued at $8,250,737.50. The trade was a 8.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

Portland General Electric 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.