Portland General Electric (NYSE:POR) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in Portland General Electric (NYSE:POR) by 6.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,076,806 shares of the utilities provider’s stock after purchasing an additional 69,392 shares during the quarter. Victory Capital Management Inc. owned about 1.05% of Portland General Electric worth $46,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in POR. Vanguard Group Inc. increased its stake in shares of Portland General Electric by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock valued at $483,069,000 after acquiring an additional 212,981 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Portland General Electric by 29.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock valued at $196,089,000 after acquiring an additional 1,017,503 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Portland General Electric by 6.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,758,995 shares of the utilities provider’s stock valued at $119,575,000 after acquiring an additional 161,432 shares during the period. Principal Financial Group Inc. increased its stake in shares of Portland General Electric by 5.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,966,720 shares of the utilities provider’s stock valued at $85,238,000 after acquiring an additional 100,496 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Portland General Electric by 10.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,420,243 shares of the utilities provider’s stock valued at $61,554,000 after acquiring an additional 140,151 shares during the period.

Portland General Electric Trading Up 0.4 %

Portland General Electric stock opened at $48.18 on Tuesday. The company has a 50 day moving average price of $46.34 and a 200 day moving average price of $43.84. Portland General Electric has a 52 week low of $38.01 and a 52 week high of $49.26. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 18.46 and a beta of 0.59.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The firm had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. During the same quarter last year, the business posted $0.44 EPS. The company’s revenue was up 17.0% on a year-over-year basis. Research analysts forecast that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is 76.63%.

Insider Buying and Selling

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the sale, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the completion of the sale, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

POR has been the topic of a number of research analyst reports. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Mizuho lifted their price target on shares of Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Barclays lifted their price target on shares of Portland General Electric from $44.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $44.86.

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.